Q4 of 94 Page 29

Find the compound interest on Rs. 24,000 compounded half - yearly for 11/2 years at the rate of 10% per annum.

Principle = 24,000

Rate of interest per annum = 10%


Time = 1.5 years


Amount =


=


= 27,783


Compound interest = Amount – principle


= 24,000 – 27,783


= 3,783


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