Question

Q6. Find the Compound Interest on Rs, 5000 for 1 year at 8% p.a., compounded
half yearly. [3 Marks]​

Answer 1

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Answer 2

Given:-

Principal:-₹5000

Time:-1 year

Rate:-8%

To find:-

CI on ₹5000 compounded half yearly

Solution:-

A=$P(1+\frac{R}{200})$²

A=$5000(1+\frac{8}{200}){2}$

A=$(\frac{208}{200})(\frac{208}{200})$

A=₹5408

CI=A-P

CI=₹5408-5000

CI=₹408

Therefore ,the answer is ₹408

                                                                     

Some formulas:-

$SI=$$\frac{P \times R \times T}{100}$

$CI=P(1+R){t} -P$