Question

If the interest is compounded half yearly, calculate the amount when the principal is Rs. 7400, the rate of interest is 5% and the duration is 1 year.​

Answer 1

Answer:

interest paid after 6 months = 370rs

interest paid after an year = 740rs

Step-by-step explanation:

PA (principal amount) = 7400

I (interest)% = 5%/half yearly

now, 5% of 7400 = 5/100*7400 = 370

interest paid after 6 months = 370rs

interest paid after an year = 370*2 = 740rs

Answer 2

hope it helps

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