How much should a sum of 16000 approximately amount to in 2 years at 10% p.a. compound interest compounded half yearly?
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Answer:
rs.20736000
Step-by-step explanation:
Principal = 16000
Time = 2 years
Rate of interest =10%
No. of compounds per year = 2
Hence a sum of rs. 16000 amount to be 20736000 in 2 years at 10% per annum, if the interest is compounded half yearly.
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