Question

5. rahim borrowed Rs 1024000 from a bank for one year. If the bank charges interest of 5%
per annum, compounded half-yearly, what amount will he have to pay after the given time
period. Also, find the interest paid by him.
25​

Answer 1

Given, Amount borrowed by Rahim (P) = 1024000 with a time period (T) = 1 yr. Also, Rate of interest (R) = 5% per annum compounded half-yearly. Hence, interest paid by him is RS. 51840.

Answer 2

Interest paid 51680!!!!!¡!!!!!!!!