Calculate the amount and the compound interest on ₹ 24000 for 3/2 years at 10% per annum, compounded half - yearly.
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Answer:
Amount = P[1+r/200]²ⁿ
If the interest is compounded half yearly.
= 24000[1+10/200]³
= 24000 x [21/20]³
= 27783.
CI = 27783 - 24000 = 3783.
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