Question

Find the compound interest semi annually on the Rs8000 at 10% per annum in 1 half years.

Answer 1

Answer:

Compound Interest = Rs. 820

Step-by-step explanation:

Principal = Rs. 8000

Rate of interest = 10% per year = 5% per semi year

Time = 1 year = 2 half years

For first half year,

Interest = P × R × T / 100

= Rs. 8000 × 5 × 1 / 100

= Rs. 400

Amount = Rs. 8000 + Rs. 800

= Rs. 8400

For second half year,

Principal = Rs. 8400

Intrest = Rs. 8400 × 5 × 1 / 100

= Rs. 420

Amount = Rs. 8400 + Rs. 420

= Rs. 8820

Compound Interest = Rs. 8820 - Rs. 8000

= Rs. 820