calculate the compound interest rupees 60000 for 1 year at 8 % compounded half yearly
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Step-by-step explanation:
RATE = 8% = 4% HALF YEARLY
TIME = 1 YEAR = 1× 2 = 2 HALF YEARLY
P= 60000
A = P( 1+ R/100) ^t
A= 60000 ( 1+ 4/100) ²
A= 60000× 104/100×104/100
A= 6× 104×104
A= 648496
C.I= A- P
C.I = 4846 rupees
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