Question

Find the compound interest on Rs 48000 for one year at 8% per annum when compounded half yearly.

Answer 1

Answer:

Step-by-step explanation:

Answer 2

The compound interest on Rs 48000 for one year at 8% per annum when compounded half yearly is Rs.3916.8

Step-by-step explanation:

Principal = Rs.48000

Time = 1 year

Rate of interest = 8%

No. of compounds per year = n = 2

$A=P(1+\frac{r}{n})^{nt}$

$A=48000(1+\frac{0.08}{2})^{2}$

A=51916.8

Compound interest =$51916.8-48000=Rs.3916.8$

Hence the compound interest on Rs 48000 for one year at 8% per annum when compounded half yearly is Rs.3916.8

#Learn more:

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