Question

find the coupound interest for ₹48000 for one year at 8 percent per annum when compuonded half yearly

Answer 1

Answer:

Step-by-step explanation: P = 48000, R= 4% (as compounded half yearly) T= 2 year (as compounded half yearly, so 2 half year = 1 year)

A = P(1+ r/100)^t

   = 48000(1+ 4/100)^2

   = 48000(1 + 25)^2

   = 48000* 26*26

   = 48000 *676

   = 124480

ci = A- P

= 124480-48000 = 44800