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. Solve the question

Answer 1

Given P = 25000, R = 20% compounded half yearly = 20/2, T = 1 1/2 = 3/2 compounded half yearly. = 3 years.

We know that A = P(1 + r/100)^n

                            = 25000(1 + $\frac{20}{2 * 100}$)

                            = 25000(1 + $\frac{1}{10}$)

                            = 25000($\frac{11}{10}$)

                            = 25000 * $\frac{11^3}{10^3}$

                            = 25000 * $\frac{1331}{1000}$

                            = 25000 * 1.33100

                            = 33275.


Therefore the required amount = 33275 rupees.


Hope this helps!

Answer 2

25000×1×10/100

=2500

2500+25000

=27500

27500×1×10/100

=2750

2750+27500

=30250

30250×1×10/100

=3025

3025+30250

=33725 ...Ans...

I hope its help you