Find the compound interest on 48,000 for one year at 8% per annum when compound half yearly.
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The compound interest on Rs 48000 for one year at 8% per annum when compounded half yearly is Rs. 3916.8.
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Answer:
The compound interest on Rs 48000 for one year at 8% per annum when compounded half yearly is Rs. 3916.8.
Step-by-step explanation:
Principal=48000
r = 8\% = \frac{8}{2} half \: yearlyr=8%=
2
8
halfyearly
n = 1year=2 half year
a = p(1 + \frac{r}{100} ) {}^{n}a=p(1+
100
r
)
n
48000(1 + \frac{8}{200} ) {}^{2}48000(1+
200
8
)
2
48000 \times \frac{26}{25} \times \frac{26}{25}48000×
2526× 2526
= 51916.8
CI=Amount-Principal
51916.8-48000.0
3916.8
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