Sam invested `15000 at 10% per annum for one year. If the interest is compounded half-yearly, then the amount received by Sam at the end of the year will be
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Step-by-step explanation:
ANSWER
P= Rs. 15000; R=10% p.a =5% per half-year; T=1 year =2 half-years.
∴ Amount =[15000×(1+
1 )
2
]
= Rs. (15000×
20
21
×
20
21
)
=16,537.50
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