A trader in Surat invests Rs 8000 for 1.5 years at 10% per annum compounded annually. For a fraction of a year, simple interest is applied on the year-end amount. Find the total amount after 1.5 years.

Question

Accepted Answer

Rs 9240. After 1 year: 8000 * 1.1 = 8800. For half year, SI = 8800 × 10/100 × 1/2 = 440. Total = 8800 + 440 = Rs 9240.

A trader in Surat invests Rs 8000 for 1.5 years at 10% per annum compounded annually.
For a fraction of a year, simple interest is applied on the year-end amount.
Find the total amount after 1.5 years.

Step-by-Step Solution

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More Class 8 Compound Interest practice

A trader in Surat invests Rs 8000 for 1.5 years at 10% per annum compounded annually.For a fraction of a year, simple interest is applied on the year-end amount.Find the total amount after 1.5 years.

Step-by-Step Solution

Master this chapter in 30 minutes a day.

More Class 8 Compound Interest practice

A trader in Surat invests Rs 8000 for 1.5 years at 10% per annum compounded annually.
For a fraction of a year, simple interest is applied on the year-end amount.
Find the total amount after 1.5 years.