Calculate the amount when a sum of Rs. 4,800 is invested at 8% per annum for 4 years, the C.I. being compounded half-yearly.
Do not use mathematical tables, use the necessary information from the following:
${(1.08)}^{4} = 1.3605 : {(1.04)}^{8} = 1.3686$
${(1.08)}^{8} = 1.8509 : {(1.04)}^{4} = 1.1699$

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Solution

Given P = Rs. 4800, r = 8 % compounded half-yearly and n = 4 years
$∴ A = P {(1 + \frac{r}{2 \times 100})}^{n \times 2}$
$= R s .4800 {(1 + \frac{8}{2 \times 100})}^{4 \times 2}$
$= R s .4800 {(1.04)}^{8}$
$= R s .4800 \times 1.3686$ (from the given values)
$= R s . 6569.28$

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