What will the compound interest on rupees 40000 at 8% per annum when interest is compounded half yearly?

Q: What is the difference between the compound interest on ₹ 40000 at 20% per annum compounded half yearly and compounded quarterly for a period of one year?

Hence, the correct answer is ₹ 220.25.

Solution:

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Find the compound interest on Rs 48,000 for one year at 8% per annum when compounded half yearly
The compound interest on ₹40,000 at 6% per annum is ₹4,944. What is the period (in years) for which the amount is invested?
Answer (Detailed Solution Below)
What will the compound interest on Rs 40000 at 8% per annum when interest is compounded half yearly?
What will be the compound interest on 40000 at 6% per annum for two and half years if the interest is compounded after every 10 months?
What is the difference between the compound interest on ₹ 40000 at 20% per annum compounded half yearly and compounded quarterly for a period of one year?
What will be the compound interest on a sum of Rs 40000?

A deposit, compounded at annual rate of interest (r), at the end of n years is given by the formula:

A = P(1 + r/100)n

Where P = Principal (deposit)

A = Amount at the end of time period

r = annual rate of interest

n = time period

In the given problem:

P = 48000

r = 8%/2 = 4% (the interest is compounded half yearly)

n = 2 (there are two half yearly periods in a year)

A = 48000(1 + 4/100)2

= 48000(1.04)2

= 48000(1.0816)

= Rs. 51916.80

Compound Interest = A - P = 51916.80 - 48000 = Rs. 3916.80

✦ Try This: Find the compound interest on Rs 48,000 for one years at 8% per annum when compounded yearly.

P = Rs. 48000

r = 8%

n = 1

A = 48000(1 + 8/100)1

= Rs. 51840

Compound Interest = Rs.51840 - Rs. 48000

= Rs. 3840

☛ Also Check: NCERT Solutions for Class 8 Maths Chapter 8

NCERT Exemplar Class 8 Maths Chapter 9 Sample Problem 14

Find the compound interest on Rs 48,000 for one year at 8% per annum when compounded half yearly

Summary:

The compound interest on Rs 48,000 for one year at 8% per annum when compounded half yearly is Rs. 3916.80

☛ Related Questions:

Lemons were bought at Rs 60 a dozen and sold at the rate of Rs 40 per 10. Find the gain or loss perc . . . .
Suppose for the principal P, rate R% and time T, the simple interest is S and compound interest is C . . . .
Suppose a certain sum doubles in 2 years at r% rate of simple interest per annum or at R% rate of in . . . .

The compound interest on ₹40,000 at 6% per annum is ₹4,944. What is the period (in years) for which the amount is invested?

5 years
4 years
3 years
2 years

Answer (Detailed Solution Below)

Option 4 : 2 years

Free

CT : GK (Ancient History)

10 Questions 10 Marks 6 Mins

Given :

Principle = Rs 40000

Rate of interest = 6%

Total interest = Rs 4944

Formula used :

P[(1 + (r/100)]n = amount (where P = principle, r = rate of interest and n = number of years)

Calculations :

Total amount = Principle + interest = 40000 + 4944

⇒ 44944

Now according to the question

40000[(1 + (6/100)]n = 44944

(106/100)n = 44944/40000

(53/50)n = 2809/2500

n = 2

∴ Period of time is 2 years

Last updated on Oct 7, 2022

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Solution : Here the principal is Rs. 40000 The rate of compound interest `=8%` Let the required time be `t` years. `:.` The amount of Rs. 40000 in `t` years `=rs. 40000xx(1+8/100)^(t)` `=Rs. 40000xx(1+2/25)^(t)` `=Rs. 40000xx(27/25)^(t)` As per questio `40000xx(27/25)^(t)=46656` or `(27/25)^(t)=46656/40000` or `(27/25)^(t)=729/625=(27/25)^(2)impliest=2` Hence the required time `=2` years.