Find the compound interest on rupees 25000 for one and half years at 8% p.a. ,when the interest is compounded half - yearly
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Answer:
=3121.6
Step-by-step explanation:
principle = 25000
time = 1.5 yrs
rate = 8 %
compounded half yearly
so... the equation goes like
CI = p (1 + r /200)^2n - 25000 ( as it is compounded half yearly)
= 25000(1+8/200)^ 2 x 3/2 - 25000 ( one year and a half so 2/2 + 1/2 = 3/2 )
= 25000(208/200) ^ 3 - 25000
= 25000 x 208/200 x 208/200 x 208/200 - 25000
= 3121.6
:)
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