Compound Interest Practice Test 3

Question : 30 of 40

Marks: +1, -0

What will be the amount if a sum of Rs. 2500 is invested for 1 year at 4% per annum compound interest, interest being compounded half-yearly?

Solution:

A=2500(1+2/100)^2

=2500(51/50)^2

={2500×51×51}/{50×50}=2601

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