A person borrowed a sum of Rs 8000 at the rate of 10% per annum compounded half-yearly.
The compound interest during the second half year is
A. Rs 400 B. Rs 820 C. Rs 420 D. none of these
The compound interest during the second half year is
A. Rs 400 B. Rs 820 C. Rs 420 D. none of these
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Verified answer
☆B) 820 Rupees
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Principal, P =Rs. 8000
Principal, P =Rs. 8000Rate of interest, R=10%
Principal, P =Rs. 8000Rate of interest, R=10%Rate of interest per conversion period =12×10%=5%
Principal, P =Rs. 8000Rate of interest, R=10%Rate of interest per conversion period =12×10%=5%n=Number of conversion periods=2 (∵1 year=2×6 months)
Principal, P =Rs. 8000Rate of interest, R=10%Rate of interest per conversion period =12×10%=5%n=Number of conversion periods=2 (∵1 year=2×6 months)Amount , A=P(1+R100)n
Principal, P =Rs. 8000Rate of interest, R=10%Rate of interest per conversion period =12×10%=5%n=Number of conversion periods=2 (∵1 year=2×6 months)Amount , A=P(1+R100)n∴A=8000(1+5100)2=8000×441400=Rs.8820
Principal, P =Rs. 8000Rate of interest, R=10%Rate of interest per conversion period =12×10%=5%n=Number of conversion periods=2 (∵1 year=2×6 months)Amount , A=P(1+R100)n∴A=8000(1+5100)2=8000×441400=Rs.8820C.I. =A-P= Rs. 8820-Rs. 8000=Rs. 820