Find the compound interest of ₹400 in one year at 12.5 per annum,when the interest is compounded half-yearly.
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Answer:
ans:- 451.56
Step-by-step explanation:
Principle = ₹400
Rate = 12.5% compounded half yearly
Time = 1 year
= Rate ÷ 2 = 12.5% ÷ 2
= 125/10 ÷ 2 = 125/20.
= Time ×2 = 1×2 =2 half years
= A = 400[1 + 125/2000]²
= A = 400[1 + 1/16]²
= 400[16/16 + 1/16]²
= 400[17/16]²
= 400 × 17/16 × 17/16
= 400 × 289/256
= 115600/256
= 451.56
ans:- 451.56
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