Question

Find the compound interest on 8000 rupees for 2 and half year at 8%

Answer 1

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$<b><i><font face=Copper black size=4 color=blue>$
Here is your answer.
P = Rs 8000
R = 8%
T = 2.5 years
n = 5 for Compounded half yearly

As we know the formula
A = P(1+ R/100)^n
$= 8000 \times (1 + \frac{8}{100} ) {}^{5} \\ \\ = 8000 \times ( \frac{100 + 8}{100} ) {}^{5} \\ \\ = 8000 \times ( \frac{108}{100} ) {}^{5} \\ \\ = \frac{8000 \times 108 \times 108 \times 108 \times 108 \times 108}{100 \times 100 \times 100 \times 100 \times 100} \\ \\ = 11754.62$
Now
CI = A - P
= 11,754.62 - 8000
= 3,754.62

Therefore Compound interest is Rs 3,754.62

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Answer 2

$\huge\boxed{\texttt{\fcolorbox{Red}{aqua}{Hey Mate!!}}}$
$<b><i><font face=Copper black size=4 color=red>$
Here is your answer.

P = Rs 8000
R = 8%
T = 2 1/2 years
n = 5 as Compounded annually

As we know
A =P ( 1 + R/100)^n
$= 8000 \times (1 + \frac{8}{100} ) {}^{5} \\ \\ = 8000( \frac{100 + 8}{100} ) {}^{5} \\ \\ = 8000(1.08) {}^{5} \\ \\ = 11754.62$
Now
Compound Interest = A - P
= 11754.62 - 8000
= 3,754.62
So Compound interest is Rs 3754.62

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