find the CI on rupees 20000 for 1 and half year at 8% per annum compounded half yearly
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Answer:
Principal = ₹20000
Rate of Interest = 8% annually
= 8/2% half yearly = 4% half yearly
Time = 1 and half year = 3 half years
C.I. = P[(1+R/100)^n-1] [n = time]
= 20000[(1+4/100)³-1]
= 20000[(1+1/25)³-1)]
= 20000[(26/25)³-1]
= 20000 [17576/15625-1]
= 20000 [17576-15625/15625]
= 20000 × 1951/15625
= 32×1951/25
= 62432/25
= 2497.28
So , compound interest = ₹2497.28
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