Question

find the compound interest on rs. 8000 for 3 years at 5% per payable half yearly​

Answer 1

Answer:

I think it's okay

Step-by-step explanation:

Principal for the first year = Rs.8000, Rate = 5% per annum, T = 1 year

Interest for the first year = =

100

P×R×T

=Rs.[

100

8000×5×1

]=Rs.400

∴ Amount at the end of the first year = Rs. (8000 + 400) = Rs. 8400

Now principal for the second year = Rs.8400

Interest for the second year =

100

P×R×T

=Rs.[

100

8400×5×1

]=Rs.420

∴ Amount at the end of the second year = Rs. (8400 + 420) =Rs.8820

Interest for the third year =

100

P×R×T

=Rs.

100

8820×5×1

=Rs.441

∴ Amount at the end of the third year = Rs.(8820 + 441) = Rs. 9261

Now we know that total C.I. = Amount - Principal = Rs. (9261 - 8000) = Rs. 1261

we can also find the C.I. as follows

Total C.I. = Interest for the first year + Interest for the second year + Interest for third year = Rs. (400 + 420 + 441) = Rs.1261

Answer 2

Compound Interest = Rs.1277.54

Explanation:

Given:

1. Principal = Rs.8000

2. No.of Years = 3 years

3. Rate of Interest = 5%

To find:

Compound Interest

Formula:

C.I Half Yearly

$Amount = P[1+\frac{r/2}{100} ]^{2n}$

Compound Interest = Amount- Principal

Step 1: Find Amount

==> Substitute the given values in the formula

==> $Amount = P[1+\frac{r/2}{100} ]^{2n}$

==> $Amount = 8000[1+\frac{5/2}{100} ]^{2(3)}$

==> $Amount = 8000[1+\frac{2.5}{100} ]^{2(3)}$

==> $Amount = 8000[1+\frac{2.5}{100} ]^{6}$

==> $Amount = 8000[\frac{100+2.5}{100} ]^{6}$

==> $Amount = 8000[\frac{102.5}{100} ]^{6}$

==>  $Amount = 8000[\frac{102.5}{100} ][\frac{102.5}{100} ][\frac{102.5}{100} ][\frac{102.5}{100} ][\frac{102.5}{100} ][\frac{102.5}{100} ]$

==>  $Amount = 8\times102.5[\frac{102.5}{10} ][\frac{102.5}{100} ][\frac{102.5}{100} ][\frac{102.5}{100} ][\frac{102.5}{100} ]$

==>  $Amount = 8\times102.5[\frac{102.5}{10} ][\frac{102.5}{100} ][\frac{102.5}{100} ][\frac{102.5}{100} ][\frac{102.5}{100} ]$

==> $Amount = 8\times[\frac{102.5\times102.5\times102.5\times102.5\times102.5\times102.5}{1000000000} ]$

==> $Amount = 8\times[\frac{1159693418213}{1000000000} ]$

==> $Amount = 8\times1159.693418213$

==> Amount = Rs.9277.54

Step 2: Find Compound Interest

==> C.I = Amount - principal

==> C.I = 9277.54 - 8000

==> Compound Interest = Rs.1277.54