a sum of $31,250 amount to $35,152 in1 1/2 yeats. find the rate per annum,interest being compounded semi annually
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Answer:
Interest compounded half yearly
⟹r=(10%)/2=5% per interest period.
No.of interest period (n)=2(3/2)=3
P=Rs.2400
CI=P[(1+
100
r
)
n
−1]
CI=24000[(1+
100
10
)
3
−1]=3783
Hence, the compound interest=Rs.3,783
Step-by-step explanation:
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