Question

Karuna borrowed 57600 from Life Insurance Corporation against her policy at
12by 1/2%per annum to build a house. Find the amount that she pays to the LIC after
1by 1/2yera if the interest is calculated half-yearly.​

Answer 1

Answer:

Step-by-step explanation:

Given:

P=Rs57600

R=12.5% p.a

n=1.5 years

When the interest is compounded half-yearly,

We have:

A=P(1+  

200

R

​  

)  

2n

 

A=57600(1+  

200

12.5

​  

)  

3

 

A=57600(1.0625)  

3

 

A= Rs 69089.06

Thus, the required amount is Rs 69089.06