Find the compound interest on rupees 48000 for one year at 8% per annum when compound half yearly
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Rate of interest (r) = 8% or 8/100
P or principal= 48000
n=2 ( compounded half yearly)
t or time = 1 yr
A ( ir total Principal + interest) = P(1 + r/n)nt= 48000 x ( 1 + 8/(100x 2)) 2 X1
= 51,916.8
Interest = Amount- principal = Rs 3,916.80
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