Math, asked by haldermousumi077, 9 months ago

mr.rao bought 1 year, rupees 10000 certificate of deposit that paid interest at an annual rate of 8% compounded semi annually. the interest received by him​

Answers

Answered by amitnrw
6

Given :  mr.rao bought 1 year, rupees 10000 certificate of deposit that paid interest at an annual rate of 8% compounded semi annually.

To find : interest received by  mr.rao

Solution:

annual rate of 8% compounded semi annually

=> Rate of interest for half year = 8/2 = 4 %

Time period = 1 Year = 2 Half Years

P = 10000

R = 4  %

n = 2  

A = Amount

A = P(1 + R/100)ⁿ

=> A = 10000 ( 1 + 4/100)²

=> A = 10816

interest received by mr.rao  = A  - P  

= 10816 - 10000

= 816

interest received by mr.rao = Rs 816

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