Question

A man bomowed16,000 for 3 years under the following termms 20% simple interest for the first 2 years. 20% C. for the remaining one year on the Ount due after 2 years, the interest being compounded half-yearly. Find the total amount to be paid at the end of three years.
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Answer 1

Answer:

ans :total amount to be paid 27104

Step-by-step explanation:

principle amount 16000 /- , S.l 20% for 2 yrs

so A= 16000+3200( s.i 1st year) +3200 (s.i 2nd year) = 22400 total for 2 yrs amount

remaing 1yr C.l for (2yrs total amount 22400)

= 22400+ ( R= 20 % for 1yr,but half yr R/2= 10%)

2240 (10% c.i for half yearly on 22400)

=24640 ( total for 1st 6 months )

= 24640 +

2464 (10% c.i for 2nd half year on 24640)

A = 27104 ( total for 3yrs amount with s.i and c.i)