8000 for 1 year at 9 % per annum compounded half yearly. what will be the amount? (you could use the year by year calculation using SI formula to verify).

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Solution

After half year, amount $= \frac{8000 \times \frac{1}{2} \times 9}{100} = R s .360 + 8000$
= Rs.8360
After next half year, amount $= \frac{8360 + \frac{1}{2} \times 9}{1001} = R s .376 .2 + 8360$
$= R s .8736 .2$

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