Find the compound interest on rs.5000for 1 year at 8% per annum compounded half yearly
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For first half year,
P=5000
T=1/2 year
R=8%
I=P*T*R/100
=5000*1/2*8/100
=200
AMOUNT=P+I
=5000+200
=5200
FOR SECOND HALF,
P=5200
T=1/2 year
R=8%
I=P*T*R/100
=5200*1/2*8/100
=208
Amount=P+I
=5200+208
=5408
Therefore, compound interest = 5408
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