find the coumpound interest on rs 10000 for 2 1/2 years at 5% per annum compounded annually
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Here P=10,000 Rs.,
n=2(1
2
1
)=3 years(Compounded semi-annually) and R=
2
5
(Compounded semi-annually)
Amount(A)=P(1+
100
R
)
n
=5000(1+
2×100
5
)
3
=5000(
40
41
)
3
=
40×40×40
5000×(41)
3
=10,768.90 Rs.
Compound interest(C.I)=A−P=10,768.90−10,000=768.90
Hence, the compound interest is Rs. 769.
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