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A person deposited rs16000 in a bank M for two years at 10% compound interest annually. But after one year, the policy of has been changed by bank and decided to pay semi-annual compound interest at the same rate. What is the percentage difference between compound interest of the first and second years?

Respuesta :

Answer:

10%

Step-by-step explanation:

semi-annual just means it pays twice a year, so 10% the first year and second year two 10% payments totaling 20% return on investment.

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