Compute the compound interest on 2560 for one year at 12-% per annum compounded
half-yearly.
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Answer:
P=2560
T=1 YEAR
R=12%
CI OF 1 ST HALF YEAR=
2560×12×1 UPON 100×2
=256×6 UPON 10
=153.6
A=2560+153.6
= 2713.6
CI FOR 2 ND HALF YEAR =
2713.6×12×1 UPON 100×2
=162.81
A=2713.6+162.81
=2876.41
TOTAL CI =153.6+162.81
=316.41
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