Find the compound interest on Rs. 8000 for 4 years if interest is payable half
yearly for the first three years at the rate of 8% p.a. and for the fourth year,
the interest is payable quarterly at the rate of 6% p.a.
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Step-by-step explanation:
Correct option is
D
Rs. 405
P= Rs.8000, Time =1 year, R=5 % payable half-yearly
Amount =P(1+
100
R
)
t
⇒8000(1+
2×100
5
)
2
⇒8000×(1+
40
1
)
2
⇒8000×
40
41
×
40
41
⇒41×41×5= Rs. 8405
C.I = Amount − Principal
C.I =8405−8000= Rs. 405
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