The compound interest on Rs 8000 for 1 year at 5% per annum compounded half-yearly is
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Given Principle P=Rs.8000
Time t=1
2
1
=
2
3
years
But, as the interest is compounded half yearly t=
2
3
×2=3years
Rate of interest R=10%
A=P(1+
100
R
)
t
A=8000(1+
100
10)
3
A=8000( 100
110
)
3
A=8000×(1.1)
3
A=8000×1.331
A=10648
CI=A−P
CI=10648−8000
CI=Rs.2648
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