Question

Bela borrowed 25000 from a finance company to start her boutique at 20% per annum compounded half yearly what amount of money will clear her debt after 1 1\2 year

Answer 1

p=25000 rate of interest=20% time=11/2 ye

Answer 2

Answer:

Rs.33275

Step-by-step explanation:

Given :Bela borrowed 25000 from a finance company to start her boutique at 20% per annum compounded half yearly

To Find: What amount of money will clear her debt after $1\frac{1}{2}$ year

Solution:

Principal = 25000

Time = $1\frac{1}{2} =\frac{3}{2}$ year

No. of compounds n = 2

Rate of interest = 20% =0.2

$Amount = P(1+\frac{r}{n})^{nt}$

$Amount =25000(1+\frac{0.2}{2})^{2 \times \frac{3}{2}}$

$Amount =33275$

Hence The amount of money will clear her debt is Rs.33275.