Question

Find the compound interest on Rs 48,000 for one year at 8% per annum when compound half yearly ​

Answer 1

Step-by-step explanation:

divide the rate% by 2 that will make rate % =4%

then year =1×2=units

A = 48000 [1+ (4÷100)]^2

= (48000 ×26 ×26)÷(25×25)

= 324888000 ÷625

=51916.80

CI =A-P

= 51916.80 - 48000 .00

=3916.80