27. Find the compound interest on R 48000 forone year at 8% per annum, – InterviewSolution

1.

27. Find the compound interest on R 48000 forone year at 8% per annum, when compundhalf-yearly.(a) 51916(c) 3916.80(b) 51916.80(d) 3910.80

Answer»

A = 48000(1+8/200)(1+8/200) = 48000(1.04)(1.04) = 51916.80 I = A - P = 51916.80 - 48000 = 3916.80

here time period is 2 or 1

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