Help please!!
- If an amount is borrowed at the rate of 6% Per annum compounded half-yearly,Then what rate of interest will be used in order to calculate the amount?
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Step-by-step explanation:
Half the given annual rate and double the given number of years.
The correct answer is option (d).
When interest is compounded half- yearly, then
T=2T=2n
Now, the amount will be
A=P(1+
200
R
)
2n
∴C=A−P
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