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Determine the compound amount and compound interest on Rs.1000 at 6%compounded semi annually for 6 years.given that (1 i)n =1.42576 for i=3%and n=12.kindlly give your answer.!?
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Determine the compound amount and compound interest on Rs.1000 at 6%co...
Compound Amount:

The compound amount is the total value of an investment after a certain period of time, taking into account the interest earned on the principal amount. To calculate the compound amount, we use the formula:

A = P(1 + r/n)^(nt)

Where:
A = compound amount
P = principal amount (initial investment)
r = annual interest rate (in decimal form)
n = number of times interest is compounded per year
t = number of years

In this case, the principal amount is Rs. 1000, the annual interest rate is 6%, and the interest is compounded semi-annually for 6 years. Let's calculate the compound amount using the given formula:

A = 1000(1 + 0.06/2)^(2*6)
A = 1000(1 + 0.03)^(12)
A = 1000(1.03)^12

Now, the given information states that (1 + i)^n = 1.42576 for i = 3% and n = 12. We can use this information to simplify the calculation further.

(1 + i)^n = 1.42576
(1 + 0.03)^12 = 1.42576

So, (1.03)^12 = 1.42576

Now, substitute this value back into the compound amount formula:

A = 1000(1.42576)
A = 1425.76

Therefore, the compound amount after 6 years is Rs. 1425.76.

Compound Interest:

Compound interest is the difference between the compound amount and the principal amount. To calculate the compound interest, we subtract the principal amount from the compound amount.

Compound Interest = A - P
Compound Interest = 1425.76 - 1000
Compound Interest = Rs. 425.76

Therefore, the compound interest on Rs. 1000 at 6% compounded semi-annually for 6 years is Rs. 425.76.

In summary:
- Compound Amount: Rs. 1425.76
- Compound Interest: Rs. 425.76
Community Answer
Determine the compound amount and compound interest on Rs.1000 at 6%co...
1.42516×1000=1425.76
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Determine the compound amount and compound interest on Rs.1000 at 6%compounded semi annually for 6 years.given that (1 i)n =1.42576 for i=3%and n=12.kindlly give your answer.!?
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Determine the compound amount and compound interest on Rs.1000 at 6%compounded semi annually for 6 years.given that (1 i)n =1.42576 for i=3%and n=12.kindlly give your answer.!? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about Determine the compound amount and compound interest on Rs.1000 at 6%compounded semi annually for 6 years.given that (1 i)n =1.42576 for i=3%and n=12.kindlly give your answer.!? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Determine the compound amount and compound interest on Rs.1000 at 6%compounded semi annually for 6 years.given that (1 i)n =1.42576 for i=3%and n=12.kindlly give your answer.!?.
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