A takes Rs. 3000 from B for 2 year at the rate of
10% half-yearly interest. What amount will be paid
by A to B after the end of 2 years?
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Answer:
Rs. 4200
Step-by-step explanation:
Given:
Princpile (P) = Rs 3000
Rate of Interest (R) = 10% halfyearly
Year (Y) = 2
To find: amount after 2 years
Solution:
∵ we know, the rate of interest in halfyearly i.e for 6 months = 10%
∴ rate of interest in yearly i.e for one year = 20%
As we know,
Simple Interest (S.I) =
=> S.I =
=> S.I = 1200
Now, Amount (A) = Principle (P) + Simple Interest (S.I)
=> A = 3000 + 1200
∴ Amount (A) = 4200. Ans
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