Question

The compound interest on ₹ 350 for 1 year at 4% per annum, the interest being payable half yearly, will be

Answer 1

Answer:

CI = 7 , A = 357

Step-by-step explanation:

When Interest is payable half yearly then,

A = P(1+R/100×2)^2n

So, A = 350 (1+4/200)1×2

So, A = 350(204/200)

A = 350×51/50 = 7×51 = 357

CI = A-P = 357-350 = 7