Advertisements
Advertisements
Question
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.
Advertisements
Solution
The compound interest on Rs 8,000 for one year at 16% p.a. compounded half yearly is 9331.2, given that (1.08)2 = 1.1664.
Explanation:
Given, principal (P) = Rs. 8000
Time period (T) = 1 yr
Rate (R) = 16% per annum compounded half-yearly
= 0.16
Amount = `P(1 + r/n)^(nt)`
n = 2(compounded half-yearly in a year)
A = `8000(1 + 0.16/2)^(2 xx 1)`
= 8000 (1 + 0.08)2
= 8000 (1.08)2
A = 8000 × 1.1664
A = 9331.2
APPEARS IN
RELATED QUESTIONS
I borrowed Rs 12000 from Jamshed at 6% per annum simple interest for 2 years. Had I borrowed this sum at 6% per annum compound interest, what extra amount would I have to pay?
Rohit deposited Rs 8000 with a finance company for 3 years at an interest of 15% per annum. What is the compound interest that Rohit gets after 3 years?
Swati took a loan of Rs 16000 against her insurance policy at the rate of \[12\frac{1}{2} %\] per annum. Calculate the total compound interest payable by Swati after 3 years.
Find the amount of Rs 2400 after 3 years, when the interest is compounded annually at the rate of 20% per annum.
Find the rate percent per annum if Rs 2000 amount to Rs 2662 in \[1\frac{1}{2}\] years, interest being compounded half-yearly?
A sum of money deposited at 2% per annum compounded annually becomes Rs 10404 at the end of 2 years. Find the sum deposited.
Sum of money amounts to Rs 453690 in 2 years at 6.5% per annum compounded annually. Find the sum.
Ashima took a loan of Rs 1,00,000 at 12% p.a. compounded half-yearly. She paid Rs 1,12,360. If (1.06)2 is equal to 1.1236, then the period for which she took the loan is ______.
If principal = Rs 1,00,000, rate of interest = 10% compounded half yearly. Find
- Interest for 6 months.
- Amount after 6 months.
- Interest for next 6 months.
- Amount after one year.
If principal = Rs 1,00,000. rate of interest = 10% compounded half yearly. Find interest for next 6 months.
