Rahul invested 40000rupees and received simple intrest at the rate of 8%p.a after 1 year. find his gain or loss if he had invested the same sum and same rate and same time with the invested being compounded half yearly
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Answer:
Amount=46656, Gain=6656
Step-by-step explanation:
Principle=40000rs
Rate=8% in 6 months
Time=1 year
8% of 40000=8/100×40000
=3200
=40000+3200
=43200
Another six months
=8% of 43200
=8/100×43200
=3456
Total amount=43200+3456
=46656Rs
Its a gain as Amount>Principle
Gain=Amount-Principle
=46656-40000
=6656
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