Find the amount and the compound interest on Rs.64000 at 5% per annum for 3/2 years, interest being calculated half-yearly.
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P= ₹64000 term half yearly so terms= 3/2×2= 3
r%= 5/2% half yearly.
Amount= P(1+r/100)^n= 64000(205/200)^3
= 64000×205×205×205/8000000= 551368/8= ₹ 68921
AMOUNT= ₹ 68921
so C.I.= 68921-64000= ₹4921
r%= 5/2% half yearly.
Amount= P(1+r/100)^n= 64000(205/200)^3
= 64000×205×205×205/8000000= 551368/8= ₹ 68921
AMOUNT= ₹ 68921
so C.I.= 68921-64000= ₹4921
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