Question

find the compound interest on rs 40000 for one and half year at 8%per annum when interest is compounded half yearly ( using only simple interest formula)

Answer 1

for the first yr,
40000*8*1/100=2400
A=40000+2400
=42400
for 1/2yr,
42400*8*1/100*2
=1696
A=44096
CI=44096-40000=4096....

Answer 2

Answer:

HERE IT IS CALCULATED IN HALF YEARLY SO,

FOR RATE OF INTEREST WE SHOULD DIVIDE BY 2

FOR TIME PERIOD WE SHOULD × BY 2