Ex 8.3, 1 (e) - Rs 10,000 for 1 year at 8% compounded half yearly.

Ex 8.3, 1 (e) - Chapter 8 Class 8 Comparing Quantities - Part 2
Ex 8.3, 1 (e) - Chapter 8 Class 8 Comparing Quantities - Part 3

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Question 1 1 (e) Calculate the amount and compound interest on (e) Rs 10,000 for 1 year at 8% per annum compounded half yearly.Given, Principal (P) = 8,000 Rate (R) = 8% Per annum compounded half Yearly = 8/2 % Per half year = 4% Per Half year Time (N) = 1 Year = 2 half years. (As 1 year = 2 half years) Amount (A) = P (1+𝑅/100)^𝑛 = 10000 (1+4/100)^2 = 10000 ((100 + 4)/100)^2 = 10000 (104/100)^2 = 10000 × (104 × 104)/(100 × 100) = 10000 × 10816/10000 = 10816 ∴ Amount = Rs 10816 Now, Amount = Principal + Interest 10816 = 10000 + Interest 10816 − 10000 = Interest 816 = Interest ∴ Interest = 816 Thus, ∴ Amount = Rs 10,816 & Compound Interest = Rs 816

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Davneet Singh has done his B.Tech from Indian Institute of Technology, Kanpur. He has been teaching from the past 14 years. He provides courses for Maths, Science and Computer Science at Teachoo