Question

· Anuj took a loan of Rs. 50,000
com o bank. If the rate of interest
is 10% p.a. find the amoud he would be
repaying after 3/2year, if the
interest is compounded annually.
& compounded half-yearly.​

Answer 1

☯ Given that,

• Principal (P) = Rs. 50000
• Rate of interest (R) = 10 % p.a
• Time (n) = 3/2 years

☯ To Find,

• The amount Anuj is repaid when the interest is compounded annually & compounded half-yearly.

☯ Solution,

Case (I), Interest is compounded annually.

We know that,

A = P(1 + R/100)^n

[ Put the values ]

⇒ A = 50000 (1 + 10/100)^{3/2})

⇒ A = 50000(1.15369)

⇒ A = Rs. 57684.48

.°. The amount Anuj is repaid when the interest is compounded annually is Rs. 57684.48 .

Case (II), Interest is compounded half-yearly.

Time (n) = 2n ⇒ 2 × 3/2 ⇒6/2 ⇒ 3 years

Again, we know that,

A = P(1 + R/100)^n

[ Put the values ]

⇒ A = 50000(1 + 10/100)³)

⇒ A = 50000(0.331)

⇒ A = Rs. 66550

.°. The amount Anuj is repaid when the interest is compounded half - annually is Rs. 66550 .