Find amount and compound interest on Rs.10,000 for 1 year 6 month at 10%p.a. compound half yearly.
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Answer:
Principal = 10000
Time = 1 yr
Rate of interst= 12%
Compounded half-yearly
Principal=10000
Time = 1yr= 2 half year
Rate of interest = 10% per annum
= 10×1/2=5 haf year
Amount=P(1+R/100)^n
=10000(1+5/100)^2
=11025
CI = Amount - Principal
= 11025 - 10000
=1025
So, amount is 11025 and CI is 1025
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