A sum of RS 2,400 is borrowed at a half-yearly compounded interest rate of 25/4 %. . . .1) find the amount of the debt at the end of one year. . . . .2) find the amount of money required to clear of the debt after 1.5 year
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amount to be paid after 1 year
=actual amount (1+rate/100)^time
=2400(1+6.25/100)^2
=2709.375
For amount required after 1.5 year to clear of the debt=2400(1+6.25/100)^3
=2400(17/16)^3
=2878.7109
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