Question

14. Jaideep borrows 16,00,000 from bank for house construction at 125% per annum. Find the amount he
has to pay after one year if the interest is calculated half-yearly.
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Answer 1

Step-by-step explanation:

principal=16,00,000

time=1yrs

rate=125%

amount=p(1+r/100)2time

amount=16,00,000(1+125/100)2multiple1

amount=16,00,000*125/100*125/100

amount=160*125*125

amount=2,500,000

compound interest=amount- principal

2,500,000 -16,00,000

900,000