find CI ON RS 5000 FOR 10 YEARS AT 7 PER ANNUM COMPOUNDED
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Answer:
Compound Rate half yearly=
2
10
=5%=r
Time=5.5yrs=5.5×2=11=n half years
A=P×(1+
100
r
)
n
A=5000×(1+
100
5
)
11
A=5000×(1+(0.05))
11
A=5000×(1.05)
11
A=5×1.71
A=8550Rs
CI=A−P=8550−5000=3550Rs
Hence the answer is 3550Rs
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