Question

What is the formula when principal is compounded half yearly

Answer 1

Rate of interest = half of 10% = 5% half yearly. Find CI paid when a sum of Rs. 50,000 invested for 1 year and 3 months at per annum compounded annually. To find the amount, first we have to find the amount for whole part i.e., 1 year in this case. Then use this as principal to get simple interest for year more

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