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Find the amount and the compound interest on `Rs 10,000` for `(1) 1/2` years at `10%` per annum, compounded half yearly. Would this interest be more than the interest he would get if it was compounded annually? |
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Answer» Principle amount=10,000 Time=1.5 years= 3 half years Interest rate=10% per year=5% per half year `A=P(1+R/100)^n` `A=10,000(1+0.05)^3``A=10,000(1.157)`A=11576 Rs |
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