Find the CI on Rs.6550 at 4% pa for 2 years compounded half yearly(approx) ?Rs.537.1Rs.527.2Rs.530.7Rs.547.1
Question
Solution 1
To find the compound interest (CI) compounded half yearly, we use the formula:
A = P (1 + r/n)^(nt)
Where: A = the amount of money accumulated after n years, including interest. P = principal amount (the initial amount of money) r = annual interest rate (in decimal) n = number of times that intere Knowee AI is a powerful AI-powered study tool designed to help you to solve study problem.
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