Find the compound interest on rupees 48000 for one year at 8% per annum when compounded half yearly.
Answers
Answered by
2
Step-by-step explanation:
Principal (P) = ₹48000
Rate (R) =8% p.a.
Time (n)= 1 year
Interest is compounded half yearly
∴A=P(1+R200)2n
=48000(1+8200)2=48000×2625×2625
=76.8×26×26
=₹51916.80
Therefore, compound interest = A-P
= ₹(51916.80 - 48000)
= ₹3916.80
Answered by
1
Principal (P) = ₹48000
Rate (R) =8% p.a.
Time (n)= 1 year
Interest is compounded half yearly
∴A=P(1+R200)2n
=48000(1+8200)2=48000×2625×2625
=76.8×26×26
=₹51916.80
Therefore, compound interest = A-P
= ₹(51916.80 - 48000)
= ₹3916.80
Similar questions