At what rate of interest per annum willa sum of 62500 Rs earn a compound interest of 5100 Rs in one year ? The interest is to be compounded half yearly?
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5100= 62500 { ( 1+r/2×100)^2 - 1}
51/625 +1 ={1+r/200)^2
676/625 = {1+r/100)^2
26/25 =1+ r/200
1/25 =r/200
200/25 =r
r = 8%
51/625 +1 ={1+r/200)^2
676/625 = {1+r/100)^2
26/25 =1+ r/200
1/25 =r/200
200/25 =r
r = 8%
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