shubham deposit rs 65536 for 2 year in a bank at 12.5% per annum compounde interest how much more he can earn if the imterst is compounded half yearly
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Actually, this is a bit confusing question so i will give the answer of a question exactly like this
Step-by-step explanation:
Neeraj lend Rs. 65536 for 2 years at 12
2
1
% p.a compound annually. How much more could he earn if interest were compounded half yearly?
ANSWER
P= 65536, R=
2
35%
Rate of interest for a half year =
4
25%
A=P×(1+
100
R
)
n
=65536×(1+
100×4
25
)
2
=65536×(
16
17
)
4
=17×17×17×17=83521
CI=17985Rs
A=P×(1+
100
R
)
n
=65536×(1+
100×2
25
)
2
=65536×
8
9
×
8
9
=82944
CI=A−P=82944−65536=17408
⇒17985−17408=577
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