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Question

Find the compound interest for Rs. 6000 at 9% per annum for 18 months if the interest is compounded semi-annually ?

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Solution

Here, P=6,000 , R=9%=9100=0.09 and n=18months=1812=32 years.
Amount after n years =P(1+r2)2n
Amount after 32 years =6,000(1+0.092)2×32
=6000(1+0.045)3
=6,000×1.0453=6847
Amount=6847 Rs.
C.I=AP=68476000=847 Rs.


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