Rs.1,000
is lent at a CI of
8%
per annum compounded half-yearly. After
1
year, the amount to
be paid back (give your answer to two decimal places) is
Answers
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Step-by-step explanation:
Principle = ₹1,000
Rate = 8%
Time = 1 year
Amount = Principle (1 - Rate/100)
= 1000 (1 - 8/100)
= ₹ 40
C.I = ₹(1000 - 40)
= ₹960
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