1000 rupees for 1x1/2 year's at 8%per annum compounded annually
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Answer:
here's your answer
Step-by-step explanation:
We know,
P(1+
100
R
)
t
Rate has been halved because interest is compounded half yearly and for same reason time has been doubled.
Therefore
=10000(1+
100
4
)
2
=10000×
25
26
×
25
26
=10816
So, interest is 10816−10000=Rs 816
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