Abha purchased a T.V. from Aman on credit. If the cost of the T.V. is ₹ 64,000 and the rate of interest is 5% per annum compounded half-yearly, find the interest paid by Abha after one and a half year.
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Given :-
- Principal = ₹ 64,000 .
- Rate = 5% per annum compounded half-yearly .
- Time = 1(1/2) years.
To Find :-
- Find the interest paid by Abha after one and a half year. ?
Solution :-
we know that, when rate is compounded half yearly,
- Time = (3/2) * 2 = 3 years.
- Rate = (5/2)% .
- Amount = Principal * [1 + (Rate/100)]^(time)
Putting all values we get,
→ A = 64000[1 + (5/200)]³
→ A = 64000[1 + (1/40)]³
→ A = 64000(41/40)³
→ A = (64000 * 41 * 41 * 41) / (40 * 40 * 40)
→ A = ₹ 68,921 .
therefore,
→ Compound interest = Amount - Principal
→ CI = 68921 - 64000
→ CI = ₹4921 . (Ans.)
Hence, the interest paid by Abha after one and a half year.
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