rs 62500 for 1.5 years at the rate of 8 per annum compounded half yearly annually
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1.5*2=3,. 8/2=4%
62500(1+4/100)³
=7804
Similar questions
=
62500
(
1
+
4
100
)
3
Rate has been halved because interest is compounded half yearly, time has been doubled for the same reason.
=
62500
×
26
25
×
26
25
×
26
25
=
70304
So, interest
=
70304
−
62500
=
7804