Find compound interest on 8000 for 1.50 years af 10% per annum if interest calculate half yearly
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When compound interest is calculated half yearly,rate gets halved and time is doubled
so rate=5%
time=3
amount=8000(1+5/100)^3
=8000*21/20*21/20*21/20=9261
compound interest=9261-8000
=1261
so rate=5%
time=3
amount=8000(1+5/100)^3
=8000*21/20*21/20*21/20=9261
compound interest=9261-8000
=1261
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