Question

Find the compound interest on 48,000 for one year at 8% per annum when compounded half yearly
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Answer 1

CI is 960

Explanation:-

Principal = 48,000

Rate = 8%

T=1/2 year

ATQ,

compounded half yearly

rate => 8/2 = 4%

Time = 6 month

12 month = 1920

1 month = 160

6 month = 960

so, CI is 960

•°• Amount =>48,000 + 960 = 48,960