In how many rears compound interest on Rs 5000 will amount to Rs 624.32 at 8% per annum compounded half-yearly.
Answers
Answer:
Compound interest would be Rs. 624.32.
Step-by-step explanation:
Since we have given that
Principal = Rs. 5000
Rate of interest = 8% p.a.
Number of years = 1 year 6 months = 1\dfrac{6}{12}=1\dfrac{1}{2}=\dfrac{3}{2}1
12
6
=1
2
1
=
2
3
So, Amount would be
\begin{gathered}A=5000(1+\dfrac{8}{200})^{2\times \dfrac{3}{2}}\\\\A=5000(1+0.04)^3\\\\A=5000(1.04)^3\\\\A=5624.32\end{gathered}
A=5000(1+
200
8
)
2×
2
3
A=5000(1+0.04)
3
A=5000(1.04)
3
A=5624.32
So, Compound interest = Amount - Principal
C.I. = 5624.32 - 5000
C.I. = 624.32
Hence, Compound interest would be Rs. 624.32.
# learn more:
What will be the compound interest on ₹ 5,000 if it is compounded half yearly at 8 % per
Compound interest would be Rs. 624.32.
Step-by-step explanation:
Since we have given that
Principal = Rs. 5000
Rate of interest = 8% p.a.
Number of years = 1 year 6 months = 1\dfrac{6}{12}=1\dfrac{1}{2}=\dfrac{3}{2}1
12
6
=1
2
1
=
2
3
So, Amount would be
\begin{gathered}A=5000(1+\dfrac{8}{200})^{2\times \dfrac{3}{2}}\\\\A=5000(1+0.04)^3\\\\A=5000(1.04)^3\\\\A=5624.32\end{gathered}
A=5000(1+
200
8
)
2×
2
3
A=5000(1+0.04)
3
A=5000(1.04)
3
A=5624.32
So, Compound interest = Amount - Principal
C.I. = 5624.32 - 5000
C.I. = 624.32
Hence, Compound interest would be Rs. 624.32.
# learn more:
What will be the compound interest on ₹ 5,000 if it is compounded half yearly at 8 % per annum
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