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The compound interest on ₹ 8000 at 10% p.a for 1 year, compounded half yearly is ………… |
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Answer» ₹ 820 Compound interest (CI) = Amount – Principal ∴ Amount = P (1 + r/100)2n [2n as it is compounded half yearly] r = 10% p.a, for half yearly r = 1 + 10/2 = 5 A = 8000 (1 + 5/100)2×1 = 8000 x (105/100)2 = 8820 CI = Amount – principal = 8820 – 8000 = ₹ 820 |
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