Calculate the amount and compound interest on: ₹ 10,000 for 1 years at 8% per annum compounded half yearly.

Here, Principal (P) = ₹ 10,000,
Time (n) = 1 years = 2 half-years (compounded half yearly)
Rate of interest (R) = 8% = 4% (compounded half yearly)
Amount (A) = P (1+R/100)ⁿ = 10000(1+4/100)² = 10000(1+1/25)²
= 10000(26/25)=26/25 x 26/25 = ₹ 10,816
Compound Interest (C.I.) = A – P = ₹ 10,816 – ₹ 10,000 = ₹ 816

Class 8 Maths Chapter 8 Exercise 8.3 Solution in Video

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