Question

find the compound interest on Rs 48000 for one yesr at 8percent per annum when compounded half yearly​

Answer 1

Step-by-step explanation:

Here principal,P=48000

rate of interest per annum=8%

rate of interest per half year,R=8/2=4

As interest is compounded half yearly,so n=12/6=2

amount,A=P(1+R/100)^n

=48000(1+4/100)^2

=48000(1+1/25)^2

=48000*26/25*26/25

=51916.80

so C.I=A-P

=51916.80-48000

=rs 3916.80