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ram depostied a sun of rupess 6250 in allahabad bank for 1 year,compunded half yearly at 8% per annum. find compound interest he gets

Answer :

kvnmurty
P = Rs 6,250    
Interest rate = 8% per annum = 4% per half year

number of times the interest is cumulated into the sum = 2 times in one year

CI = 6, 250 ( 1 + 4 /100)² - 6, 250 
     = 6, 250 (1.04 * 1.04) - 6, 250
      = 6, 250 * (1.0816 - 1) 
        = 6, 250 * 0.0816 = Rs 510

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