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Find the amount on rs. 10,000 for 1 year at the rate of 20% annum compounded half yearly |
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Answer» Answer:We have Rate of INTEREST = 20% per annum = 20 =5% per quarter Time = 1 year = 4 quarters Principal for the first quarter = Rs. 10000 Interest for the first quarter = Rs.( 100 10000×5×1 )=Rs.500 AMOUNT at the end of first quarter =Rs.10000+Rs.500=Rs.10500 Principal for the second quarter =Rs.10500 Interest for the second quarter = Rs. ( 100 10000×5×1 )=Rs.500 Amount at the end of second quarter =Rs.10500+Rs.525=Rs.11025 Principal for the third quarter =Rs.11025 Interest for the third quarter = Rs.( 100 11025×5×1 )=Rs.551.25 Amount at the end of the third quarter =Rs.11025++Rs.551.25=Rs.11576.25 Principal for the FOURTH quarter Rs.11576.25 Interest for the fourth quarter = Rs.( 100 11576.25×5×1 )=Rs.578.8125 Amount at the end of the fourth quarter =Rs.11576.25+Rs.578.8125=Rs.12155.0625 Compound interest =Rs.12155.0625−Rs.10000=Rs.2155.0625 Step-by-step explanation: |
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