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The compound interest on ₹ 25000 at 8% per annum for 6 months when compounded quarterly is |
₹ 2010 ₹ 1010 ₹ 4040 ₹ 2020 |
₹ 1010 |
6 months = 2 quarters & rate quarterly Rate will be = 8/4 = 2% Time will be = 6 × 4 = 24 months or 2 years. C.I. = 25000[(1 + 2/100)^2 - 1] = Rs1010 |
