Question

Find the compound interest on rs 48000 for one year at 8percent per annum when compounded half yearly ​

Answer 1

☆ Solution ☆

Given :-

• Principal (P) = ₹ 48000

• Time (T) = 1 years

• Rate (R) = 8%

To Find :-

• The compound interest .

Step-by-Step-Explaination :-

As we know that :-

Amount = P ( 1 + r/100 )^n

Amount = 48000 ( 1 + 8/100 )²

Amount = 48000 ( 1 + 0.08/2 )²

Amount = 51916.8

Now,

Compound Interest = Amount - Principal

Compound Interest = 51916.8 - 48000

Compound Interest = ₹3916.8

Hence Solved !