Question

Gajendra Singh purchased a house from Aawas parshid on credit if the cost of the house is 64000 rupees and the rate of the interest is 5% per annum compounded half yearly find the interest paid by Gajendra singh after one and half years ​

Answer 1

The interest paid by Gajendra singh after one and half years ​= Rs 4921  if house cost is 64000 & Rate of interest 5% per annum compunded half yearly

Step-by-step explanation:

cost of the house is 64000  Rs

Rate of interest = 5 %  Per Annum

= 5/2 = 2.5  % half yearly

time =  one & Half Year  =  3  Half Years

Amount after one & Half Year  = 64000 ( 1 + 2.5/100)³

= 68921

Interest Paid =  68921 - 64000

= 4921 Rs

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Answer 2

Interest = 2400 rs

Step-by-step explanation:

Given,

Cost of the house, P = 64000

Time, T = $\frac{3}{2}$ years

Rate, R = 5% per annum

Then, R = 2.5 % (half yearly)

Interest = $\frac{P\times R\times T}{100}$

= $\frac{64000\times 2.5\times 3}{100\times 2}$

= $\frac{480000}{200}$

Interest = 2400 rs