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Find the amount and the compound interest on {R}{s}{10},{000}

Question

Find the amount and the compound interest on $R s 10, 000$ for $(1) \frac{1}{2}$ years at $10 %$ per annum, compounded half yearly. Would this interest be more than the interest he would get if it was compounded annually?

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Find the amount and the compound interest on

R s 10, 000

for

(1) \frac{1}{2}

years at

10 %

per annum, compounded half yearly. Would this interest be more than the interest he would get if it was compounded annually?

5 mins ago

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Text solutionVerified

Solution: Principle amount=10,000
Time=1.5 years= 3 half years
Interest rate=10% per year=5% per half year

A = P (1 + \frac{R}{100})^{n}

A = 10, 000 (1 + 0.05)^{3}

A = 10, 000 (1.157)

A=11576 Rs

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Question Text	Find the amount and the compound interest on $R s 10, 000$ for $(1) \frac{1}{2}$ years at $10 %$ per annum, compounded half yearly. Would this interest be more than the interest he would get if it was compounded annually?
Answer Type	Text solution:1
Upvotes	150