Calculate the amount and compound interest on ₹62000 for 1½ years at 8% per annum compounded half yearly
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Here P = ₹62000,T = 1½ , R = 8% P. a.
Compouning half yearly
R = 8% P.a = 4% per half year
T = 1½ year ➡ n = 3 half years
Amount = P[1+R/100]n
= ₹62000 [1+4/100]³
= ₹62000 [26/25]³
= ₹62000 *26/25*26/25*26/25
= ₹ 4*26*26*26
= ₹70304
Amount = ₹70304
I hope this answer is help you
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