Find compound interest paid when sum of 1000 rupees is invested for 1 year 3 months at 8and1/2percent per annum compounded anually
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Answer:
Principal rs. 10000
Rate 2 percent per half year
Time 2 years equal to 4 half year
Amount rs. 10824.32
C.I rs 10824.32-10000
824.32
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