Question

Find the compound interest on 8000 for 1 year at 5% per annum, compounded half-yearly.​

Answer 1

Answer:

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Step-by-step explanation:

P= Rs.8000, Time =1 year, R=5 % payable half-yearly

Amount =P(1+100R)t

⇒8000(1+2×1005)2

⇒8000×(1+401)2

⇒8000×4041×4041

⇒41×41×5= Rs. 8405

C.I = Amount − Principal

C.I =8405−8000= Rs. 405