Question

find the compund interest on rs 1000 at the rate of 8% per annum for 1 Year. when interest is compounded half yearly​

Answer 1

Answer:

Rs.81.60

Step-by-step explanation:

When compounded half-yearly, the rate is halved and the time is doubled.

Principal (P) = Rs.1000

Rate (R) = (8÷2)% = 4%

Time (n) = (1×2) year = 2 years

Amount (A) = P (1 + R/100)ⁿ

=> A = 1000 (1 + 4/100)²

=> A = 1000 (26/25) (26/25)

=> A = Rs.1081.60

Compound Interest = A-P = Rs.(1081.60-1000) = Rs.81.60

Answer 2

₹81.60 is the right answer

hope it helps you