Given:
Present value= ₹ 8000
Interest rate= 10 % per annum
Time=1 year and compounded half yearly
To find the amount we have the formula,
Amount (A) = P (1+(R/100)2n
Where P is present value, r is rate of interest, n is time in years.
Now substituting the values in above formula we get,
∴ A = 8000 (1 + (10/2)/100)2
⇒ A = 8000 (1+5/100)2
⇒ A = 8000 (1+1/20)2
⇒ A = 8000 (21/20)2
⇒ A = 20 × 441
⇒ A = ₹ 8820
∴ Compound interest = A – P
= 8820 – 8000 = ₹ 820
Calculate the amount and compound interest on Rs 8,000 for 1 year at 9% per annum compounded half yearly.
Here P = Rs 8000, T = 1 year, R = 9% p.a.
Interest is compounded half yearly,
∴ T = 1 year = 2 half years
R = 9% p.a.=
∵ Amount =
= Rs 8000
= Rs.
= Rs
CI = Rs 8736.20 - Rs 8000
= Rs 736.20
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(d) Rs 8,000 for 1 year at 9% per annum compounded half yearly.
(You could use the year by year calculation using SI formula to verify.)
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