find the amount to be paid at the end of 2 years on Rs 2400 at 5% per annum compounded half yearly
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Soln:
P=Rs2400
R=5℅ per annum =2.5 ℅ per half year
T=2years=4 half years
so, A=P(1+r/100)^t
=2400(1+25/1000)^4
=2400×(41/40)^4
=2400×2825761/2560000
=Rs2649.15
P=Rs2400
R=5℅ per annum =2.5 ℅ per half year
T=2years=4 half years
so, A=P(1+r/100)^t
=2400(1+25/1000)^4
=2400×(41/40)^4
=2400×2825761/2560000
=Rs2649.15
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