find the compound interest on 48000 1 year at 8% per annum when compounded half yearly
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48000×8/100=3840
half yrly CI=3840+3840+76•5=7756•5answer
half yrly CI=3840+3840+76•5=7756•5answer
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Answer:
Here, principal=₹48000
Rate=8% per annum
Time=1 yr
when interest is compounded half-yearly,then
A=P(1+R/200)²
=48000(1+8/100)²
=48000×26/25×26/25
=76.8×26×26
=₹ 51916.80
Compound interest=A-P
=₹(51916.80-48000)
=₹3916.80
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