16. Ram deposited a sum of 32500 in the Allahabad Bank for 1 year. If the interest is compounded half.
yearly at a rate of 12% per annum, find the compound interest he gets.
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16. Ram deposited a sum of 32500 in the Allahabad Bank for 1 year. If the interest is compounded half.
yearly at a rate of 12% per annum, find the compound interest he gets.
Step-by-step explanation:
16. Ram deposited a sum of 32500 in the Allahabad Bank for 1 year. If the interest is compounded half.
yearly at a rate of 12% per annum, find the compound interest he gets.
Answered by
1
Answer:
Answer
P=6250,R=8%, T=1 year
A=P(1+
100
r
)
m
, where m is time
when it is compounded half yearly
r=
2
r
t=2m=2
So,
2
8
=4%
t=2×1=2 years
A=6250(1+
100
4
)
2
=6760
CI=A−P
=6760−6250
=510
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