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
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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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