Question
A deposited ₹62,500 at the rate of 8% per annum
compounded half yearly, then what is the compound interest at the end of two years?Solution
As per the question, Amount = 62500× (1+4/100)4. =62500× (1+ 1/25)4. =62500× (26/25)4. =62500 × 676/625× (676/625) =676 x 100×676/625 =45697600/625 = Rs. 73116.16 The interest will be 73116.16-62500 = Rs 10616.16
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