A sum of $25000 was lent at 10% per annum of 6 month. find the amount if they interest was compounded. a. half - yearly and b. quarterly.
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Step-by-step explanation:
Principal = 25000.
Rate=10/
Time=1/2year
Interest for first part=
25000×10×1/2×1×100=1250
Amount=Principal×Interest
25000+1250
26250.
So,Principal for 1/4 year is now 26250.
Interest for next part=26250×1/4×10×1/100
=656.25
Amount for second part
=principal+interest
=26250+656.25
=26906.25
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