9. What amount is to be repaid on a loan of RS 12000 for RS 1(1/2) years at 10% per annum compounded half yearly.
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Answer:
Rs13,891.50
Step-by-step explanation:
Principal loan = Rs12,000
Interest accrued after 6 months = half of 10% of 12000 = Rs600
After 6 months New Principal = Rs12,600
Interest accrued after another 6 months = half of 10% of 12,600 = Rs630
After One year New Principal = Rs12,600 + Rs630 = Rs13,230
Interest accrued after final 6 months = half of 10% of 13,230 = Rs661.50
Amount to be repaid after 1 and a half years = Rs13,230 + Rs661.50 = Rs13,891.50
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