What will be the compound interest on a principal of Rs. 8000 in 1 year
when rate of interest is 5% per annum. Note that interest is calculated every
6 month.
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1
Answer:
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Step-by-step explanation:
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
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