Find the amount and compound interest on 35000 for 1 year at the rate of 10% annum, when the interest is compounded half-yearly.
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Answer:
A=P(1+
100
R
)
n
P= Rs 35000, Time, n= 3 half years, R= 12% p.a= 6% per half yearly
A=35000(1+
100
6
)
3
A=35000(
100
100+6
)
3
A=35000(
100
106
)
3
A=35000(
50
53
)
3
A=Rs41685.56
CI=41685.56-350000
CI=Rs6685.56
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