Anuj took a loan of ₹50,000 from a bank if the rate of interest is 10% p.a., find the amount he would repaying after 11\2 years if the interest is: a) compounded annually. b) compounded half yearly.
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The principal amount borrowed=P=SI/100/N*R where SI=simple interest Rs 3600; N=period of interest 2 years and R= rate of interest 10%
Principal=3600*100/2*10=3600*5=Rs 18000
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