2. Find the compound interest on 21,000 at 12% rate of interest for 1 year,
compounded half-yearly.
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Step-by-step explanation:
Interest compounded half yearly
⟹r=(10%)/2=5% per interest period.
No.of interest period (n)=2(3/2)=3
P=Rs.2400
CI=P[(1+ 100r ) n −1]
CI=24000[(1+ 10010 ) 3 −1]
=3783
Hence, the compound interest=Rs.3,783
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