1 Calculate the amount and compound interest on:
(d) Rs 8000 for 1 year at 9% per annum compounded half yearly. (You could use the year by year calculation using SI formula to verify)
Principal,P =Rs.8000, Rate, R = 9% per annum compounded half yearly for 1 year.
Now, There are two half years in a year. Therefore compounding has to be 2 times.
And rate = half of 9% = 4.5% half yearly.
Therefore, the required amount = = Rs. 8736.20
And Compound Interest, CI = Amount - Principal = Rs. (8736.20 - 8000) = Rs. 736.20
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