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Find the compound interest on an amount of Rs 35000 for =112 years compound semi-annually at the rate of 12% p.a.

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6669.54

6698.78

6678.66

6685.56

answer is D.

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Detailed Solution

We have principle (P)=35000
And rate of interest(R) =12%
And here compounded semi-annually it means time will be multiplied with two so ,
Time(n)

And rate will be divided by 2 ie;

So find the compound interest we can use formula for the amount here and we have the formula ,

Substituting the value of n,R and p we get,
Question Image

After equating with principle value we get,

Compound interest = amount – principal

The compound interest is 6685.56
So, option 4 is correct.

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