Find the amount and the compound interest on ₹ 32,000 for 1 year at 20% per annum compounded half-yearly.
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P=32,000
n= 1 year
r= 20/2
r=10
now, A= P ( 1 + r/100 ) n
A= 32,000 ( 1 + 10/100 ) 1
A= 32,000 ( 11/10 )1
A= 32,000×11/10
A= 35200
as we know that,
Compound interest = Amount - Principal
= 35200 - 32000
= 3200
n= 1 year
r= 20/2
r=10
now, A= P ( 1 + r/100 ) n
A= 32,000 ( 1 + 10/100 ) 1
A= 32,000 ( 11/10 )1
A= 32,000×11/10
A= 35200
as we know that,
Compound interest = Amount - Principal
= 35200 - 32000
= 3200
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