at what rate rs. 1000 will become rs. 1500 in 5 years, find rate if interest is compounded half yearly
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Answer:
10%Per annual
half year=10/2=5%
Step-by-step explanation:
Total amount=1500
Principal amount=1000
Simple intrest=Total amount-principal amount
=1500-1000
=500
rate of intrest= S.I×100/PT
=500×100/1000×5
=50000/5000
=10%
half year = 10/2 =5%
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