geeta borrowed rs/15000 for 18 months at a certain rate of interest compounded semi-anually. if at the end of six months it amounted to 15600;calculate:
1.the rate of interest per annum
2.the total amount of money that geeta must pay at the end of 18 months in order to clear the account
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Hello here's your answer : 1. 8%
2. 16872.96
here I want to inform you that in question it has asked the rate of interest compounded "semi annually " . Which means we have to calculate the rate of interest half yearly .
if you have any more doubt than comment me .
hope u be happy with this answer.
: ) : ) . . . . . . . . . . . . . .
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