Question

8. A sum of Rs 2,400 is borrowed at a half-yearly compound interest rate of 6( 1/4 )%
(1) Find the amount of the debt at the end of one year.
(ii) Find the amount of money required to clear off the debt after 1 ( 1/2 )years.​

Answer 1

Answer:

Given principal P = Rs 2400, Rate of interest = 6¼% per half year = 25/4% Recall that  

(1)   Here n = 2 as the interest is compounded half yearly.  Thus amount of debt at the end of one year is Rs 2709.40 (nearly) 

(2) Time period = 1 ½  years hence n = 3 as interested is compounded half yearly  Thus amount required to clear off the debt is Rs 2878.70 (nearly)

Answer 2

Answer:

Step-by-step explanation: