Question

Calculate the amount and the compound interest on rupees 24000 for 3 by 2 years at 10% per annum compounded half yearly

Answer 1

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Amount = P[1+r/200]²ⁿ    ...........If the interest is compounded half yearly.

Amount = P[1+r/200]²ⁿ    ...........If the interest is compounded half yearly.              = 24000[1+10/200]³

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