The compound interest on Rs 8,000 for one year at 16% p.a. compounded half yearly is _________, given that (1.08)² = 1.1664
Solution:
A = P(1 + r/100)n
A = ?
r = 16/2 = 8%
P= Rs.8000
n = 2(2 conversion periods)
A = 8000(1 + 8/100)2
= 8000(1 + 0.08)2
= 8000 × (1.08)2
= 8000 × 1.1664
= 9331.20
Compound Interest = 9331.20 - 8000
= Rs.1331.20
✦ Try This: The compound interest on Rs 8,000 for 2 years at 8% p.a. compounded yearly is _________, given that (1.08)² = 1.1664.
A = P(1 + r/100)n
A = ?
r = 8%
P= Rs.8000
n = 2
A = 8000(1 + 8/100)2
= 8000(1 + 0.08)2
= 8000 × (1.08)2
= 8000 × 1.1664
= 9331.20
Compound Interest = 9331.20 - 8000
= Rs.1331.20
☛ Also Check: NCERT Solutions for Class 8 Maths Chapter 8
NCERT Exemplar Class 8 Maths Chapter 9 Problem 35
The compound interest on Rs 8,000 for one year at 16% p.a. compounded half yearly is _________, given that (1.08)² = 1.1664
Summary:
The compound interest on Rs 8,000 for one year at 16% p.a.compounded half yearly is Rs. 1331.20 given that (1.08)² = 1.1664
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