a sum taken 1½ years at 8%per annum is compounded half yearly. find the time period
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a sum taken 1½ years at 8%per annum is compounded half yearly. find the time period
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Answer:
When a sum is taken for 1 &1/2 yrs at 8% per annum compounded half-yearly then the rate of interest is 4% per half-year & the time period is 3 half-years.