1. Gayathri obtained
a loan of Rs.4000 against some security
If the rate of interest is 10% per annum compounded half
yearly, find the amount and the compound interest paid by her
at the end of 2 years.with explnation
Answers
Given : Gayathri obtained a loan of Rs.4000 against some security
rate of interest is 10% per annum compounded half yearly
To Find : amount and the compound interest paid by her at the end of 2 years.
Solution:
Loan = 4000
=> P = Rs 4000
Rate of interest = 10 % per annum
=> R = 5 % half yearly
Time = 2 years
n = 4 Half Years
A = P (1 + R/100)ⁿ
=> A = 4000 ( 1 + 5/100)⁴
=> A = 4000 (21/20)⁴
=> A = 4,862.025
=> A ≈ Rs 4862
Interest = A - P = 4862 - 4000 = Rs 862
amount paid by her at the end of 2 years = Rs 4862
compound interest paid by her at the end of 2 years = Rs 862
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