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Acertain sum becomes Rs13650 at 15% p.a. simple interest after 2 years. What will be the amount(in Rs) of the same sum after 1
year at the same rate of interest, if the interest is compounded half yearly? (nearest to a Rs)
12134
10500
13625
11000
- The sum grows to Rs 13650 at 15% per annum simple interest after 2 years.
- Using the simple interest formula A=P(1+rt), we can determine the principal P.
- Here, A=13650, r=0.15, t=2.
- Solve for P: 13650=P(1+0.15×2).
- P=136501.3=10500.
- For the compound interest calculation:
- Principal P=10500, rate r=15% annually (7.5% half-yearly).
- For 1 year (2 half-years):
- Final amount A=P(1+0.075)2.
- Calculate:
A=10500×(1+0.075)2
A=10500×(1.075)2
A=10500×1.155625
A≈12134
- ?? Correct answer is 12134.
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