Find the compound interest on Rs. 2500 invested at 6% per annum, compound semiannually for 8 years.
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Answer:
1511.77
Step-by-step explanation:
A−P
P(1+R%n)nT−P
P[(1+R%n)nT−1]
Given, n=2, T=8, P=2500Rs., R%=6%
2500[(1+6%2)16−1]
2500[(1.062)16−1]
=1511.77
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