What will be the principal which amounts
160 more than the first year at the rate of
8 p.c.p.a. with the compound interest?
Answers
Answered by
2
Step-by-step explanation:
Given Rate = 10% annum
= 5% per half year
time = 2 years = 4 half year
Amount =P(1+
100
R
)
n
=160000(1+
100
5
)
4
= Rs. 194481
Compound Interest = Amount - Principal
= 194481 - 160000
= Rs. 34481
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