Question
If interest is compounded half-yearly, then find the
compound interest on Rs. 8,000 at the rate of 20% per annum for 1 year.Solution
Sum =8000, rate =20%yearly =10% half-year. T = 1 year =2 half year. Compound interest = 1st year -800 2nd year-800Â Â Â 80 Total =1680
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