Question

1. Munir took a loan of 15,000, intending to repay it in
a lump sum at the end of five years. If the annual
rate of interest on the loan is 15%, interest being
compounded every six months, then what will the
principal amount to (approximately) after five years?
(A) 30,170
(B) 30,915
(C) 31,534
(D) 360, 683​

Answer 1

Answer:

Option B) ₹30,915

Step-by-step explanation:

$\implies$ $A=P{\Large(}1+{\Large\frac{r}{200})}^{2n}$

$\implies$ $A=15,000{\Large(}1+\Large\frac{15}{200})^{2×5}$

$\implies$ $A=15,000{\Large(\frac{215}{200})}^{10}$

$\implies$ $A=15,000×(1.075)^{10}$

$\implies$ $A=15,000×2.061$ (Approx value)

$\implies$ $\boxed{A=30,915}$

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