How much will a sum of rupees 6000 amount to in 3 and a half years at 10% per annum compound interest payable half yearly
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The compound interest on Rs. 6000 at 10% per annum for one year ,compounded half-yearly is =6000×(1+
2×100
100
)
2
−6000
=6000×
20
21
×
20
21
−6000
=6615−6000=615.
So the compound interest is Rs. 615.
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