Find CI paid when a sum of Rs 10000 is invested for 1 year and 3 months at 17/2 % per annum compounded annually.
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Answer:
GIVEN,
Principal =Rs , 10,000
Rate = 8 1/2%= 17/2 %
THEREFORE,
Time = 1 year 3 months,
= 1 1/4 years
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NOW,
AMOUNT = PRINCIPAL + INTREST
=10, 850 = 10,000 + INTREST
INTREST = 10,850 - 10,000 = 850.
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