caculate the interest earned and amount due ,if a sum of rs 15000is invested for 1 ½ years at 8% per annum compound interest, interest being compounded semi-annually. i want step by step
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Step-by-step explanation:
⇒ P=Rs.15000,T=1year=2 and R=16%
R
eq
=8% Since, semi-annually compounded.
T
eq
=2.T=2. Since, semi-annually compounded.
⇒ A=P(1+
100
R
eq
)
T
eq
⇒ A=15000×(1+
100
8
)
2
⇒ A=15000×(
25
27
)2
∴ A=Rs.17496
∴ C.I.=A−P=Rs. 17496−Rs.15000=Rs.2496.
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