Q. 35

Fill in the blanks to make the statements true.

The compound interest on Rs 8,000 for one year at 16% p.a. compounded half yearly is _________, given that (1.08)2 = 1.1664.

Answer :

Given, principal(P) = ₹8000

Time period (7) = 1yr

Rate (ft) = 16% per annum compounded half-yearly

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