3. Rachna borrows 12,000 at 10 per cent per
annum interest compounded half-yearly. She
repays 4,000 at the end of every six months.
Calculate the third payment she has to make
at the end of 18 months in order to clear the
entire loan.Without using formula.
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Answer:
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8th
Maths
Comparing Quantities
Finding Discount and Discount Percentage
Rachna borrows Rs. 12,000 a...
MATHS
Rachna borrows Rs. 12,000 at 10 per cent annum interest compound half-yearly. She repays Rs. 4,000 at the end of every six months. Calculate the third payment she has to make at the end of 18 month in order to clear the entire loan.
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ANSWER
Rate of interest 10% per annum
∴ rate of interest for half-yearly=5%
Principal for the first six month=Rs.12000
Rate of interest=5%
∴ Amount after first six year=12000(1+
100
5
)
=12000×
100
105
=Rs.12600
Money Re-pay st the end of first six month=Rs.4000
∴ Principal for the second six month=12600−4000=Rs.8600
Rate of interest=5%
∴Amount after second six month(12 month)=8600(1+
100
5
)
=8600×
100
105
=Rs.9030
Money re -pay at the end of second six month=Rs.4000
Principal for the third six month(18 months)=9030−4000=Rs.5030
Rate of interest=5%
∴ Amount after third six month
=5030(1+
100
5
)
=5030×
100
105
=Rs.5281.50
∴ The payment at the end of 18 monthe in order to clear the entire lon=Rs.5281.50
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