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A bank offers 10% compound interest calculated on half yearly basis. A customer deposits Rs.2000 each on 1st January...
Solution
Amount after 1 year on Rs.2000 deposited on 1st January at 10% when interest calculated half yearly is
Amount after half year on Rs.2000...
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FORMULA FOR COMPOUND INTEREST:
Where:A = Amount of the invested Principal after time tP = Principal amount r = Annual...
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