find the amount & compound interest on₹50000 for 1and half year at 8% per annum ,the interest being compounded semi-annually
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the interest bieng compounded semi annually is 2000
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Given, p = 50000
R = 8% per annum = 8/2 = 4% semi annually.
Time = 1 and half year(18 months)
Formula is A = p(1+r/100)^n
= 50000 * [1 + (4/100)^3]
= 50000 * 26 * 26 *26 / 25 * 25 * 25
= 56243.2
Hope this helps!
R = 8% per annum = 8/2 = 4% semi annually.
Time = 1 and half year(18 months)
Formula is A = p(1+r/100)^n
= 50000 * [1 + (4/100)^3]
= 50000 * 26 * 26 *26 / 25 * 25 * 25
= 56243.2
Hope this helps!
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