Arif took a loan of 80000 from bank .If rate of interest is 10% per annum find difference in amount he would paying after 1and half year if interest is compounded annually
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Answer:Compounded Annually
Amount for 1 year
A=P(1+R÷100)n
A=80000(1+10÷100)1
A=80000(1+1÷10)1
A=80000(10+1÷10)1
A=80000(11÷10)1
A=80000×11÷10
A=Rs.88000
Interest for half year
Simple Interest=P×R×T÷100
SI=88000+10+1÷100×2
SI=Rs. 4400
Total amount=Rs.8800+Rs.4400
=Rs.92400
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Answer:
₹92400 answer
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