If the interest is compounded half yearly what will be the compound interest and amount on rs.8000 at the rate of 10% compound interest per annum for 1 and half years
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Answer:
P= Rs 8000
R=10% p.a
n=1.5 years
When compounded half-yearly,
We have:
A=P(1+
200
R
)
2n
A=8000(1+
200
10
)
3
A=8000(1.05)
3
A= Rs 9261
Also, CI=A–P= Rs 9261– Rs 8000= Rs 1261.
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