Find Compound Interest on ₹10000 for one year at 10% per annum if the interest is compounded half yearly.
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Answer:
Principal (P)= ₹10000
rate (R) = 10%
time (n) = 1 year
interest = compound half yearly
Step-by-step explanation:
Amount = P(1+R/200)^2n
= 10000(1+10/200)^2×1
=10000(210/200)^2
=10000(21/20)^2
=10000×21/20×21/20
=25×21×21
=11,025
Compound interest= A-P
= 11025-10000
= 1025
Compound interest on ₹10000 for one year at 10% compounded half yearly is ₹1025
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