Find the compound interest on 5000 at the rate of 10% p.a. compounded semi- annually for 1 1/2
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Answer:
3550Rs
Step-by-step explanation:
PrincipalP==5000Rs
Compond Rate per annum=10%
Compound Rate half yearly=210=5%=r
Time=5.5yrs=5.5×2=11=n half years
A=P×(1+100r)n
A=5000×(1+1005)11
A=5000×(1+(0.05))11
A=5000×(1.05)11
A=5×1.71
A=8550Rs
CI=A−P=8550−5000=3550Rs
Hence the answer is 3550Rs
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