arun took loan of RS 12809 for one year at rate of 15/2 % per annum compaonded semi annually find amount he have to pay after 1 year
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The amount is 28773%
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P = Rs 12809
R = 15/2 %
T = 2 years
Since compounded semi annually
A = P × ( 1 + R/200 ) ^2T
= Rs 12809 × ( 1 + 15/200 × 2 ) ^2×1
= Rs 12809 × ( 1 + 3/80) ^2
= Rs 12809 × 83/80 × 83/80
= Rs 13787.68
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