nd 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) on Rs.6550 at 4% per annum for 2 years compounded half yearly, we need to use the formula for compound interest:
CI = P(1 + r/n)^(nt) - P
where: P = principal amount (the initial amount of money) = Rs.6550 r = annual interest rate (in decimal) = 4/100 = 0.04 n = Knowee AI is a powerful AI-powered study tool designed to help you to solve study problem.
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