1. John borrowed Rs. 20,000 for 4 years under the following cond10% simple interest for the fiyears.10% C.I, for the remaining one and a half years on the amount due after 2-years, the interest beingcompounded half-yearly.
Answers
Given :- John borrowed Rs, 2,0000 for 4 years under the following conditions :
- 10% simple interest for the first 1 years.
- 10% C.I. for the remaining one and a half years .
- 10% on the amount due after 1.5 years, the interest being compounded half-yearly.
To Find :- The total amount of be paid at the end of fourth year.
Solution :-
we know that,
- A = P[1 + (R/100)]^T
- when interest being compounded half-yearly, time becomes two times and rate becomes half .
so,
- Time for 1.5 years = 1.5 * 2 = 3 years.
- Rate = 10/2 = 5% per annum .
then,
→ A after 1st year = 20000[1 + (10/100)] = 20000 * (11/10) = Rs.22000 .
and,
→ A after next 1.5 years = 22000[1 + (10/100)] * [1 + (10/2*100)] = 22000 * (11/10) * (21/20) = Rs.25410 .
therefore,
→ A after next 1.5 years = 25410[1 + (5/100)]³ = 25410 * (21/20)³ = Rs.29415.25 (Ans.)
Hence, The total amount of be paid at the end of fourth year will be Rs.29415.25 .
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