Find the compound Interest on Rs. 15000 for 18 months at the rate of 10% p.a.
compounded half-yearly.
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Answer:
2364.375 rs
Step-by-step explanation:
compound interest compounded half yearly formula A=P[1+r/200]^2*n
given 18 months means 18/12 year=3/2 years
A= 15000[1+10/200]^2*3/2
A=15000[1+1/20]^3
A=15000[21/20]^3
A=15000[21*21*21/20*20*20]
after simplification
A=(15*21*21*21)/8
A=17364.375
compound interest=17364.5-15000
=2364.375 Rs
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