Question

Let us calculate compound interest on 6000 for 1 year at the rate of 8% compound
interest per annum compounded at the interval of 6 months.​

Answer 1

Answer:

489.6

Step-by-step explanation:

1. C.I = P( 1 + r/100)^n - P
2. C.I = 6000(1 + 4/100)^2 - 6000
3. C.I = 6000 × 26/25 × 26/25 - 6000
4. C.I = 6489.6 - 6000
5. C.I = 489.6

Answer 2

Answer:

Step-by-step explanation: