20. Indu lent out 18,000 for 2 years at 20% per annum compounded annually . how much more could she
earn, if the interest were compounded half-yearly?
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Answer:
principal=18000
Rate of interest = 20% =10% half yearly
Time =2year =3half year
18000*(1+10/100) to the power 3
18000*11/10 * 11/10 *11/10
18*11 *11 *11
= 23958
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