calculate the amount if ₹5,000 is invested at 10% p.a. for 2 years. Also, the rate of interest is compounded quaterly.
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Step-by-step explanation:
PrincipalP==5000Rs
Compond Rate per annum=10%
Compound Rate half yearly=
2
10
=5%=r
Time=5.5yrs=5.5×2=11=n half years
A=P×(1+
100
r
)
n
A=5000×(1+
100
5
)
11
A=5000×(1+(0.05))
11
A=5000×(1.05)
11
A=5×1.71
A=8550Rs
CI=A−P=8550−5000=3550Rs
Hence the answer is 3550Rs
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