Claculate the compound interest on 6000 in 1¹/2 years at 5% per annum compounded half yearly
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Step-by-step explanation:
The compound interest on Rs. 6000 at 10% per annum for one year ,compounded half-yearly is =6000×(1+
2×100
100
)
2
−6000
=6000×
20
21
×
20
21
−6000
=6615−6000=615.
So the compound interest is Rs.615
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