calculate the amount of 31250 at the end of 2½ yrs compounded annually at 8% per annum
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Explanation:
p = 31250
T = 2½
R = 8%.
. First we take 2 in compound interest . and we take ½ in simple interest .
31250( 1+8/100)² = 36450
A = 36450
c.i. = 36450 - 31250 = 5200
5200 × 1/2 × 2
_____________ =52
100
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