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Activity Discussion Math Class 8 Comparing Quantities

• # Class 8 Comparing Quantities

Posted by on June 23, 2023 at 5:57 pm

Calculate the amount and compound interest on :

Rs8000 for 1 year at 9% per annum compounded half yearly .

replied 1 year, 2 months ago 2 Members · 1 Reply
• ### Aftab

Member
June 23, 2023 at 6:01 pm
0

To calculate the amount and compound interest on Rs8000 for 1 year at a compound interest rate of 9% per annum, compounded half-yearly, we need to use the formula for compound interest:

A = P(1 + r/n)^(nt)

Where: A = Total amount after interest P = Principal amount (initial investment) r = Annual interest rate (in decimal form) n = Number of times the interest is compounded per year t = Time in years

Given: P = Rs8000 r = 9% per annum (or 0.09 as a decimal) n = 2 (compounded half-yearly) t = 1 year

Let’s calculate the amount and compound interest step by step:

First, let’s calculate the compound interest (CI):

CI = A – P

To find A, we use the compound interest formula:

A = P(1 + r/n)^(nt)

A = Rs8000(1 + 0.09/2)^(2*1)

A = Rs8000(1 + 0.045)^2

A = Rs8000(1.045)^2

A = Rs8000(1.092025)

A = Rs8736.20 (rounded to two decimal places)

Now, let’s calculate the compound interest (CI):

CI = A – P

CI = Rs8736.20 – Rs8000

CI = Rs736.20

Therefore, the total amount after 1 year will be Rs8736.20, and the compound interest earned will be Rs736.20.

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