pays rs 15000 at the end of each year for ten years and the earn an annual interest of 11%
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Answer:
Rs. 16,537.50
Explanation:
P= Rs. 15000; R=10% p.a =5% per half-year; T=1 year =2 half-years.
∴ Amount =[15000×(1+ 5/100)^2]
= Rs. (15000× 21/20 ×21/20)
=16,537.50
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