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Shankaran invested ₹ 28000 in a finance company at 12% per annum for 2 years, compounded semi annually. what amount will he get at the time of maturity |
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Answer» Answer: ₹35,349.35Step-by-step explanation: Principal Shankaran invested: ₹ 28000 ✪ Compounded SEMI Annually ✪ 12% per annum ✪ For 2 years Now let US calculate C.P : ✪ Compound Interest = A = P (1 + r/n)^(nt) By SUBSTITUTING, we get: A = 28000*(1 + 12/2)^(3*2) = ₹35,349.35 Therefore A = ₹35,349.35Hope this helped! |
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