Question

anirudh took a loan of 8192 from Praveen to buy a washing machine at 12.5% pa compounded half yearly . the loan was repaid at 3/2years .calculate the amount that anirudh had to pay to clear the loan ​

Answer 1

Answer:

Rs 8704

Step-by-step explanation:

Loan amount taken by Anirudh from Pravin = Rs 8192

So, Principle Amount (P) = Rs 8192

Rate (R) = 12.5% = 12 1/2% = 25/2%

Time = 1/2 years

The Interest is compounded half-yearly

Compound Interest (C.I) = PTR/100

                                      = (8192 x 1/2 x 25/2) / 100

                                      = Rs 512

Therefore, the loan amount paid by Anirudh in 1/2 year = Principle Amount (P) + Compound Interest (C.I)

= Rs 8192 + Rs 512

= Rs 8704

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