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Calculate the Amount and Compound Interest On Rs 10000 for 1 Year at 8% per Annum Compounded Half Yearly. - CBSE Class 8 - Mathematics

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Question

Calculate the amount and compound interest on Rs 10000 for 1 year at 8% per annum compounded half yearly.

Solution

Principal (P) = Rs 10,000

Rate = 8% per annum or 4% per half year

Number of years = 1 year

There are 2 half years in 1 year.

A = `P(1 + R/100)^n`

= `Rs [10000(1 + 4/100)^2] = Rs [10000(1 + 4/100)^2] = Rs [10000(1 + 1/25)^2]`

= Rs `(10000 xx 26/25 xx 26/25)`

= `Rs 10816`

C.I. = A − P = Rs 10816 − Rs 10000 = Rs 816

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APPEARS IN

 NCERT Solution for Mathematics Textbook for Class 8 (2018 to Current)
Chapter 8: Comparing Quantities
Ex.8.30 | Q: 1.5 | Page no. 133
Solution Calculate the Amount and Compound Interest On Rs 10000 for 1 Year at 8% per Annum Compounded Half Yearly. Concept: Conept of Compound Interest.
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