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Suppose you took loan from a bank of amount 800£ at 8% interest compounded semi-annually for three years. Find the compound interest.

  • fc college -

    S= p (1+r/100) ^ n
    = 800(1+ 8 /100) ^ 3
    = 800 ( 1.2598)
    = 1007.76
    C= s – p = 1007.76 – 800 = 207.76

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