Find the compound interest on Rs.2000 for 6 months at 10% per annum compounded
half yearly.
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Answered by
4
Answer:
Rs.100
Step-by-step explanation:
Principal (P) = Rs.2000
Rate (R) = 10%
Time (n) = 6 months = 1/2 years
When compounded half-yearly, the rate gets halved and the time gets doubled.
A = P (1 + R/100)ⁿ
=> A = 2000 (1 + 10/200)¹
=> A = 2000 × 21/20
=> A = Rs.2100
Compound Interest = Rs.(2100-2000) = Rs.100
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2
Answer 880
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