a man lends rs 50,000 at compound interest at 8 per cent per annum. If the interest is reckoned half early, what amount will he receive at the end of two years? Find also the compound interest he compounder annually.
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p=50000,rate of interest=8%=>4% for halfyearly & time period =2 years(4 half years=n)
A=p(1+r/100)to the power n
A=50000(1+4/100)(1+4/100)(1+4/100)(1+4/100)
A=50000×26×26×26×26/25×25×25×25
=50000×(1.04)(1.04)(1.04)(1.04)
=50000×1.16985=₹58492.9=A
CI=58492.9-50000=₹8492.928
A=p(1+r/100)to the power n
A=50000(1+4/100)(1+4/100)(1+4/100)(1+4/100)
A=50000×26×26×26×26/25×25×25×25
=50000×(1.04)(1.04)(1.04)(1.04)
=50000×1.16985=₹58492.9=A
CI=58492.9-50000=₹8492.928
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