A certain sum of money is put at compound interest,compounded half yearly.if the interest for two successive half years are ₹650and ₹760.50;find the rate of interest
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Step-by-step explanation:
Difference between the C.I of 2 successive half-years
=>Rs:760.50 -Rs:650=Rs:110.50
=>Rs:110.50 is the intrest of one half year on Rs 650
Rate of interest =Rs
100×I/p×t%
650 ×1/2%
=>34%
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