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The compound interest on half-yearly rests on Rs. 10000 the rate for the first and second years being 6% and for the third years 9% p.a. is Rs. ___________.
  • a)
    2200
  • b)
    2287
  • c)
    2285
  • d)
    None
Correct answer is option 'D'. Can you explain this answer?
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The compound interest on half-yearly rests on Rs. 10000 the rate for t...
Solution:
Given,
Principal amount (P) = Rs. 10000
Rate of interest for the first and second year (R1) = 6%
Rate of interest for the third year (R2) = 9%
Compound interest is calculated half-yearly.
We can use the formula to find out the compound interest for 3 years with half-yearly compounding.
Compound interest = P[(1+R/2)^(2t)] - P
Where R = Rate of interest per annum
t = Time in years

For the first and second years:
R = R1/2 = 3%
t = 2
Compound interest for the first and second years = 10000[(1+3/100)^(2*2)] - 10000 = Rs. 1252

For the third year:
R = R2/2 = 4.5%
t = 1
Compound interest for the third year = 11252[(1+4.5/100)^(2*1)] - 11252 = Rs. 1264.24

Total compound interest = Compound interest for the first and second years + Compound interest for the third year
= 1252 + 1264.24 = Rs. 2516.24

Therefore, the correct answer is option 'D' None.
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The compound interest on half-yearly rests on Rs. 10000 the rate for the first and second years being 6% and for the third years 9% p.a. is Rs. ___________.a)2200b)2287c)2285d)NoneCorrect answer is option 'D'. Can you explain this answer?
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