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If the semi-annual compound interest of Rs15625 for 1 year 6 months is Rs 1951, find the rate of interest. |
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Answer» Given: The semi-annual COMPOUND INTEREST of Rs. 15625 for 1 year 6 months is Rs. 1951 To find:The rate of interest Solution:To SOLVE the given problem we will use the FOLLOWING formula of HALF-yearly compound interest: Here we have C.I. = Rs. 1951 P = Rs. 15625 n = Now, using the above two formulas, we get substituting the given values taking cube roots on both sides Thus, the rate of interest is → 8%. --------------------------------------------------------------------------------- Also View:What will be the compound interest on 5,000, if it is compounded half-yearly for 1 year 6 months at 8% per annum? What will Rs.80,000 amount to in 2 years at the rate of 20% p.a., if interest is compounded half yearly? Principal= ₹ 2560 Rate = 25/2% Time = 1 Year calculate the amount and C.I. if the interest is compounded half yearly. |
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