Question

karuna borrowed rs 57600 from life insurance corporation against her policy at 25 / 2 % per annum to build a house . find the amount that she pays to the L.I.C. after 3 / 2 years if the interest is calculated half yearly. ​

Answer 1

Answer:

69,089.06

Step-by-step explanation:

Given  

karuna borrowed rs 57600 from life insurance corporation against her policy at 25 / 2 % per annum to build a house .  

given P = Rs 57,600

        R = 25/2 %

       n = 1.5 years

So we need to do half yearly compounding, we get

A = P(1 + r/200)^2n

   = 57600(1 + 25 / 400)^3

   = 57,600 (1 + 0.0625)^3

  = 57,600(1.0625)^3

A = 69,089.06

So the amount will be Rs 69,089.06

Answer 2

Answer:

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