Problem Statement
₹8,000 at 10% per annum compounded half-yearly for 1 year gives compound interest of:
Explanation
Half-yearly rate is five percent, number of periods two. Amount equals eight thousand times one point zero five squared equals eight thousand eight hundred twenty. Interest is eight hundred twenty.
Code Solution
SolutionRead Only
A = 8000×(1+0.10/2)^2 = 8000×1.1025 = 8820 ⇒ CI = 8820−8000 = 820
