Arif took a loan of 80,000 from a bank. If the rate of interest is 10% per annum, find the
difference in amounts he would be paying after 1 years, if the interest is compounded
annually and compounded half yearly.
answer is 1) 210 2) 610. Please give the process of finding the answer
Answers
Answered by
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principal =80,000
Rate of interest = 10 per cent
Time =1year
P X R X T /100
80,000 X 10 X 1 / 100
= 8,000
Answer
=
Answered by
0
p=®80000
r=10% p.a.
t=1year
SI=prt/100
=80000×10/100×1
=8000
a=p+si
=80000+8000
=88000
amount for 1 year is 88000
if we will do it for 1/2 year, then-
SI=80000×10/100×1/2
=4000
a=80000+4000
=84000
difference=88000-84000
=4000
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