Lalit borrowed rupees 50000 from a bank for 1 year @ 10.5% per annum compute the amount that Lalit has to pay to the bank to clear the loan interest is compounded half yearly
Answers
Answered by
4
Answer:
amount=5538.78
Step-by-step explanation:
(' means to the power)
A=P(1+R/100*2) '2*T
A=5000(1+10.5/100*2)'2
A=5000(1+2.1/20*2)'2
A=5000(1+2.1/40)'2
A=5000(40+2.1/40)'2
A=5000*42.1/40*42.1/40
A=5538.78
Similar questions