Gita borrowed rupee 50000 from a finances company to built her new house at the rate of 20%per annum compounded half yearly find the compound interest that she pay after 1 1/2
Answers
Answered by
2
Answer:
hope you got your answer
Attachments:
Answered by
0
Answer:
ATQ,
as it is compounded half yearly,
so:
P = $50,000. [ it will remain same ]
R = 20%p.a. = 20/2 = 10%p.a. [ rate will be divided by 2 in case compounded half yearly ]
T = 2 × 2 = 4 years. [ time will be multiplied by 2 in case of compounded half yearly ]
A = P( 1 + r/100 )^n
A = 50,000( 110/100 )⁴
A = 50,000 × 11 × 11 × 11 × 11
10× 10× 10× 10
A = 73,205
C.I = $( 73,205 - 50,000 )
= $ 23, 205.
Hope that it maybe helpful!!
Similar questions