Question

Message Hira Associates lent out Rs 400000 for 1 year at 16% per annum compounded annually how much day quote on if the interest is compounded half yearly

Answer 1

P=400000
T=1 YEAR =2 HALFS
R=16%=4% p.a
A=4,00,000×(1+4÷100)^2
A=400000×26÷25×26÷25
A=432,640
CI=432,640-400000
=32640
Answer=32640 Rs

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