Geeta borrowed ₹2500 from a finance company for 3/2 years at 10% per annum. What amount will she have to pay if the interest compounded semi annually .
Answers
Answer:
Principal amount (P)=Rs.16000
Rate of interest, (R)=10% per annum or 5% per half year.
Time (n)=1
2
1
=
2
3
years.
∴A=P(1+
100
R
)
n
⇒=16000(1+
100
5
)
3
⇒=16000×(
100
105
)
3
⇒=Rs.18522
Answer:
₹2894.05
Step-by-step explanation:
Money Borrowed By Geeta =₹2500
Time = 3 half years
Rate = 5 % half yearly
Amount After Three Half Years = ₹ 2500(1+5/100)^3
= ₹ 2500(1+1/20)^3
= ₹2500(21/20)^3
= ₹ 2500 X 9261 / 8000
= ₹5/16*9261
= ₹ 5*578.81
= ₹ 2894.05
Hence Amount After 3/2years = ₹ 2894.05