Find the amount and C.I on Rs.62500 for 1 1/2 years at 8% p.a compounded half-yearly
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Answer:
CI=Rs7700
Step-by-step explanation:
Principal=Rs62500
Rate =8%pa=8/2=4%
time=1year
Interest=PRT/100
=62500×1×4/100
=Rs2500
Amount =Principal+Interest
=Rs62500+2500
=Rs65000
Now
Principal=Rs67500
Rate=8%pa=4%
time=1/2 years
Interest=65000×1×4/100×2
=Rs1300
Total CI=Rs2500+Rs1300
Rs 4800. Ans
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