8 62,500 for is yours at 8% per annum coropounded half yearly
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Answer:
8th
Maths
Comparing Quantities
Compound Interest
Rs 62,500 for 1 12 years at 8
MATHS
Rs 62,500 for 1
2
1
years at 8% per annum compounded half yearly, find the interest.
MEDIUM
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ANSWER
A=P(1+
100
R
)
t
P=62500, R=4, t=3
Rate has been halved because interest is compounded half yearly and for the same reason the time has been doubled
So,
A=62500(1+
100
4
)
3
=62500(1+
25
1
)
3
=62500(
25
26
)
3
=70304
Amount =Rs. 70,304
Compound Interest =Rs. (70304−62500)
=Rs. 7,804
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