Question

find the compound interest on rupees 8000 for 1 year at 7% per annum compounded half yearly
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Answer 1

Step-by-step explanation:

Principal (P) = Rs.8000

Time (n) = 1 year = 2 half years

Rate = 7% per annum

Rate (R) for half year = 7/2 %

Now:-

$\sf Amount = P\bigg(1+ \dfrac{r}{100}\bigg)^{n}$

$\sf\dashrightarrow A = 8000\times\bigg(1+ \dfrac{7}{2\times100}\bigg)^{2}$

$\sf\dashrightarrow A = 8000\times \bigg( \dfrac{207}{200}\bigg)^{2}$

$\sf\dashrightarrow A = 8000\times \dfrac{207\times 207}{200\times200}$

$\sf\dashrightarrow A = 8000\times \dfrac{42849}{40000}$

$\sf\dashrightarrow A = \dfrac{42849}{5}$

$\sf\dashrightarrow A = 8569.8$

$\sf \therefore \underline{ Amount = Rs.8569.8}$

$\sf Compound\: Interest = Amount - Principal$

$\sf \longrightarrow CI = 8569.8 - 8000$

$\sf \longrightarrow CI = 569.8$

$\dashrightarrow \underline{\boxed{\sf Compound \: Interest =Rs. 569.8}}$

Answer 2

Answer:

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