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Finding CI When Rate Compounded Anually or Semi - Anually

Calculate the...

Question

Calculate the compound interest for the second year on Rs. 8,000/- invested for 3 years at 10% per annum.

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Solution

For 1^st year

P = Rs. 8000

R = 10%

T = 1 year

A = 8000 + 800 = Rs. 8800

For 2^nd year

P = Rs. 8800

R = 10%

T = 1 year

Compound interest for 2^nd years = Rs. 880

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