Question

find the difference between compound interest on rs 8000 for 1 year at 8 % per annum when interest is compounded annually and semi annually​

Answer 1

Answer:

Rs. 2.80

Step-by-step explanation:

When compunded annually,

P = 8000, R = 8%, T = 1

A = P(1+R/100)^T = 8000 (1 + 8/100)^1 = Rs. 8640

So, I = 8640-8000 = Rs. 640.

When compounded semi-annually,

P = 8000, R = 8/2 = 4%, T = 2

A = 8000(1 + 4/100)^2 = 8000*26*26/25*25

                                     = Rs. 8642.80

So, I = 8642.80 - 8000 = 642.80

So, Difference in CI = 642.80 - 640 = Rs. 2.80

Answer 2

Step-by-step explanation:

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