Question

The compound interest on Rs.48000 for 1 year at 10% per annum compounded half-yearly in Rs. is?

Answer 1

10.25% you'll get as comound intrest as you said compounded half yearly means for the first six month you'll get 5% with no compound intrest. and for another six month you will get 5.25% (5% of 5=0.25) compund intrest =10.25%

10.25%of48000 =4920

Answer 2

Answer:

Step-by-step explanation:

The compound interest accumulation formulae is :

P(1 + i)^n = A

Where :

P = the principle amount.

A = Accumulated amount

n = Duration in years

i = Rate of interest

Half yearly in our case n = 2 × 1 = 2

Doing the substitution.

48000(1.10)^2 = 58080

The compound interest = 58080 - 48000 = 10080