if interest is compounded half yearly what will be
the compound interest and amount on Rs8,000 at
the rate of 10% compound interest per annum for
17 years?
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if interest is compounded half yearly what will bethe compound interest and amount on Rs8,000 atthe rate of 10% compound interest per annum for17 years?
Answer:
you answer is
₹1,261
Answered by
1
Step-by-step explanation:
Given that
P = ₹8,000
R = 10 % p.a.
T = 1 1/2 year = 3/2 years
Solution :
When the interest is compounded half - yearly
A = P(1+R/200)^2 n
= 8,000(1+10/200)^2 × 3/2
= 8,000(200+10/200)^3
= 8,000(210+200)^3
= 8,000(21/20)^3
= 8,000 × 9,261/8,000
= ₹9,261
C.I. = A - P
= ₹(9,261 - 8,000)
= ₹1,261
thank you
additional info : refer 8th class book of CBSE board for better understanding chapter: compound interest.
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