nikunj invested ₹40000 and received simple interest at the rate of 8% p.a. after 1 year. find his gain or loss, if had invested the same sum at same rate and for same time with the interest being compounded half-yearly
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We know A =P(1+it)
i.e., 85,925=70,000(1+
100
6.5
×t)
85,925/70,000=1+
100
100+6.5t
22.75=6.5t
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