Find the amount that Shankar will get on Rs. 81920 if he invested it for 18 months at 12½ % per annum. Interest is being compounded half yearly
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Step-by-step explanation:
P= Rs 8192
R=12.5% p.a
n=1.5 years
When the interest is compounded half-yearly, we have:
A=P(1+
200
R
)
2n
A=8192(1+
200
12.5
)
3
A=8192(1.0625)
3
∴A= Rs. 9826
Thus, the required amount is Rs. 9826
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