Find the compound interest on 48,000 for one year at 8% per annum when compound half yearly.
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Answer:
ohPrincipal = Rs.48000
Time = 1 year
Rate of interest = 8%
No. of compounds per year = n = 2
A=P(1+\frac{r}{n})^{nt}A=P(1+
n
r
)
nt
A=48000(1+\frac{0.08}{2})^{2}A=48000(1+
2
0.08
)
2
A=51916.8
Compound interest =51916.8-48000=Rs.3916.851916.8−48000=Rs.3916.8
Hence the compound interest on Rs 48000 for one year at 8% per annum when compounded half yearly is Rs.3916.8
abha430:
thank you so much
not a problem
Have a great
day
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