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 1½ years if the interest is?
Answers
Answer:
Rs.210
Step-by-step explanation:
1) Compounded Annually :
P=Rs.80000
R=10% p.a.
T=1
2
1
years ⟹n=1+
2
1
Amount for 1st year.
A=P[1+
100
R
]
n
=Rs.80000[1+
100
10
]=Rs.88000
SI on Rs. 88000 for next 1/2 year
=Rs.88000×
100
10
×
2
1
=Rs.4400
Therefore, Amount = Rs.88000+Rs.4400 = 92400Rs.
2) Compounded half yearly :
P=Rs.80000
R=10% p.a.=5% per half year
T=1
2
1
years ⟹n=3
A=Rs.80000[1+
100
5
]
3
A=Rs.92610
Thus, the difference between the two amounts = Rs.92610−Rs.92400 =
Step-by-step explanation:
1) Compounded Annually :
P=Rs.80000
R=10% p.a.
T=1 1/2 years= n=1+1/2
Amount for 1st year.
A=P[1+ 1/100)^n
=80000(1+10/100)= Rs. 88000
SI on Rs. 88000 for next 1/2 year
=Rs.88000×10/100×1/2=Rs.4400
Therefore, Amount = Rs.88000+Rs.4400 = 92400Rs.
2) Compounded half yearly :
P=Rs.80000
R=10% p.a.=5% per half year
T=1 1/2years=n=3
A=Rs.80000[1+5/100]^3
A=Rs.92610
Thus, the difference between the two amounts = Rs.92610−Rs.92400 =Rs.210
hope it is helpful