Compute the compound interest on Rs.2560 for one year at 25/2% per annum compounded half hearly.
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Step-by-step explanation:
Principal = 2,560 Rs.
Rate = 25/2% = 12.5%
Time = 1 Year.
Compound Interest (C.I) = Amount - Principal.
Amount = Principal(1 + Rate/100)ⁿ
Amount = 2560(1 + 12.5/100)¹
Amount = 2560 × 112.5/100.
Amount = 288,000/100.
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