##  10,000 for 1 year at 8% per annum compounded half yearly what is the compound interest and amount

Question

10,000 for 1 year at 8% per annum compounded half yearly what is the compound interest and amount

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1 month 2021-08-13T13:26:42+00:00 1 Answer 0 views 0

Step-by-step explanation:

Given,

Principal, P =Rs.10000,  Rate, R = 8% 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 10% = 5% half yearly.

Therefore, the required amount = 10000(1+\frac{4}{100})^{2}  = Rs. 10816

And Compound Interest, C.I. = Amount – Principal = Rs. (10816 – 10000) = Rs. 816.