. Rs 1600 lent at a compound interest of 5% per annum, compounded half yearly for one year will amount to:
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Rs 1600 lent at a compound interest of 5% per annum, compounded half yearly for one year will amount to:
. Rs 1600 lent at a compound interest of 5% per annum, compounded half yearly for one year will amount to:
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Verified answer
Answer:
Rs. 1681
Step-by-step explanation:
Amount= P[1+r/100]^t
As compounded half yearly, t= 1yr*2= 2,
r= 5%/2= 2.5%
A= 1600[1+2.5/100]^2= 1681.