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| Find the compound interest on Rs. 48000 for one year at 8% per annum when compounded half yearly. Please scroll down to see the correct answer and solution guide. Right Answer is: DSOLUTIONPrincipal (P) = Rs. 48000 Related QuestionsWhat will be the compound interest of Rs. 48,000, at the rate of 10% for a period of \(1\frac{1}{2}\) years, if the rate of interest is calculated based on six months?This question was previously asked in REET 2011 Level - 2 (Maths & Science) (Hindi/English/Sanskrit) Official Paper View all REET Papers >
Answer (Detailed Solution Below)Option 2 : Rs. 7,566 Free CT 1: Growth and Development - 1 10 Questions 10 Marks 10 Mins Given: P = 48,000 R = 10% T = 1\(\frac{1}{2}\) years; Concept: \(C.I = P{\left[ {1 + \frac{R}{{100}}} \right]^T} - P\) Calculation: Since, interest is calculated half-yearly, the rate will be halved and time will be doubled. \(C.I = P{\left[ {1 + \frac{R}{{100}}} \right]^T} - P\) \(\Rightarrow C.I = 48000{\left[ {1 + \frac{5}{{100}}} \right]^3} - \;48000\) \(\Rightarrow C.I = 48000 \times \frac{{105}}{{100}} \times \frac{{105}}{{100}} \times \frac{{105}}{{100}} - \;48000\) \(\Rightarrow C.I = 55566 - 48000\) \(\Rightarrow C.I=7,566\) ∴ The compound interest will be Rs. 7,566. Last updated on Sep 29, 2022 REET 2022 Written Exam Result Out on 29th September 2022! The final answer key was also out with the result. The exam was conducted on 23rd and 24th July 2022. The candidates must go through the REET Result 2022 to get the direct link and detailed information on how to check the result. The candidates who will be finally selected for 3rd Grade Teachers are expected to receive Rs. 23,700 as salary. Then, the candidates will have to serve the probation period which will last for 2 years. Also, note during probation, the teachers will receive only the basic salary. Let's discuss the concepts related to Interest and Compound Interest. Explore more from Quantitative Aptitude here. Learn now! What will the compound interest on Rs 40000 at 8% per annum when interest is compounded half yearly?40000xx(1+8/100)^(t)` <br> `=Rs. 40000xx(1+2/25)^(t)` <br> `=Rs. 40000xx(27/25)^(t)` <br> As per questio `40000xx(27/25)^(t)=46656` <br> or `(27/25)^(t)=46656/40000` <br> or `(27/25)^(t)=729/625=(27/25)^(2)impliest=2` <br> Hence the required time `=2` years.
What is the difference between the interests on 50000 for one year at 8% per annum compounded half yearly and yearly?The difference between the compound interest and the simple interest compounded half yearly on an amount of Rs. 50000 for 1 year is Rs. 180.
How do you calculate compound interest compounded half yearly?If interest is compounded half yearly, rate of interest = R / 2 and A = P [ 1 + ( {R / 2} / 100 ) ]T, where 'T' is the time period. For example, if we have to calculate the interest for 1 year, then T = 2. For 2 years, T = 4.
What is the compound interest on Rs 8000 at 20 per annum for 9 months compounded quarterly?The interest compounded quarterly for 9 months means t=912year. So, the compound interest on Rs 8000 at 20% per annum for 9 months compounded quarterly is 1261.
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Find the compound interest on 48000 for one year at 8% per annum when compounded half yearly
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