Question

A man borrowed Rs 49,800 from a bank
at 5% per annum compounded half yearly
and promised to pay it back in two
equal half yearly instalment. Find the
amount of each instalment​

Answer 1

Answer:

26160. 5625

Step-by-step explanation:

Principal = 49800

R%=5 compounded half yearly

Time = 2 half years (1 year)

Amount = p(1+r/200)^2t

=49800(1+5/200)^2

=49800(41/40)(41/40)

=52321.125

Amount of each installment = 52321.125/2

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