Find Compound interest paid when a sum of Rs. 12600 is Invested for 2 year at 10 % per annum Compounded Annually
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Answer:
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Step-by-step explanation:
P=Rs 12,500.
R=10%
T=2 years
If interest is payable Annually
A=P(1+
100
R
)
T
=12,500(1+
100
10
)
2
=15125
∴I=A−P=(15125−12500)=Rs 2625
If interest is payable semi-annually.
A=P(1+
200
R
)
2T
=12500(1+
200
10
)
2×2
=15193.8
∴I=A−P=15193.8−12500=2693.8
∴ Extra Interest fetched =Rs (2693.8−2625)=Rs 68.82
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