Question

The compound interest on Red 8000 for at 5% P.a payable half yearly is

Answer 1

Answer:

P= Rs.8000, Time =1 year, R=5 % payable half-yearly

Amount =P(1+

100

R

)

t

⇒8000(1+

2×100

5

)

2

⇒8000×(1+

40

1

)

2

⇒8000×

40

41

×

40

41

⇒41×41×5= Rs. 8405

C.I = Amount − Principal

C.I =8405−8000= Rs. 405