If rs 6000 is deoosited for two years at 4% oer annum comoounded quaterly
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Amount = P[1+r/400]⁴ⁿ
= 6000 x [ 1 + 4/400]⁴ ˣ ²
= 6000 x [101/100 ]⁸
= 6000 x 101/100 x 101/100 x ...........x101/100 [ 8 times]
= 64971402337684806000/10000000000000000
= 6497 approx.
CI = 6497 - 6000 = 497
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