Question

fine the interest on rupees 5000 for 2 year at the rate of 5/ compounded half yearly
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Answer 1

Answer:

P = Rs 5,000

t = 1 year 6 months, so t = 3 

r = 8% per annum

C.I=P(1+100r)t−P

=P((1+100r)t−1)

=5000((1+1008)3−1)

=5000(0.2597)

=Rs1298.5(Rs1298.5