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Find the amount and the compound interest on Rs. 8000 for 1 ½ years at 10% per annum, compounded half-yearly. |
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Answer» Given details are, Principal (p) = Rs 8000 Rate (r) = 10 % per annum = 10/2% = 5% (half yearly) Time (t) = 1 ½ years = (3/2) × 2 = 3 half years By using the formula, A = P (1 + R/100) n = 8000 (1 + 5/100)3 = 8000 (105/100)3 = Rs 9261 ∴ CI = Rs 9261 – 8000 = Rs 1261 |
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