Q2. Find the amount and the compound interest on Rs 8000 in 1½ years at 10% per year compounded half-yearly.
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Given Principal amount is Rs 8000
Time =1 and a half year
Rate of interest = 10 %p.a. or 5% half yearly
Calculate total amount
On 1st half of the 1st year=Rs.8000+5%
=Rs.8000+Rs.400=Rs.8400
On 2nd half of the 1st year=Rs.8400+5%
=Rs.8400+Rs.420=Rs.8820
On 1st half of the 2nd year=Rs.8820+5%
=Rs.8820+Rs.441=Rs.9261
CI=Amount-Principal
=Rs.9261-Rs.8000
=Rs.1261
Hence,
the amount will be Rs.9261 and the compound interest will be Rs.1261
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