Question

Malik borrowed rs 20000 from a finance company at 8% per annum compounded half-yearly. What amount will he have to pay after 3/2​

Answer 1

Answer:

$\tt {\pink{Given}}\begin{cases} \sf{\green{Principal=Rs.20000}}\\ \\ \sf{\blue{Time=\dfrac{3}{2}\times 2 = 3\:Years}}\\ \\ \sf{\orange{Rate=\dfrac{8}{2} = 4\%}}\\ \\ \sf{\red{Compound \: intrest=half \: yearly}}\end{cases}$

☯ $\underline{\boldsymbol{According\: to \:the\: Question\:now :}}$

$:\implies \sf Amount = Principal \Bigg\lgroup 1 + \dfrac{Rate}{100}\Bigg\rgroup^{\tiny Time}$

$:\implies \sf Amount =20000\Bigg\lgroup 1 + \dfrac{4}{100}\Bigg\rgroup^{3}$

$:\implies \sf Amount =20000\Bigg\lgroup \dfrac{100 + 4}{100}\Bigg\rgroup^{3}$

$:\implies \sf Amount =20000\bigg\lgroup \dfrac{104}{100}\bigg\rgroup^{3}$

$:\implies \sf Amount =20000\bigg\lgroup \dfrac{1124864}{1000000}\bigg\rgroup^{3}$

$:\implies \sf Amount =20000 \times 1.124864$

$:\implies \underline{ \boxed{ \sf Amount =Rs. \: 22497.28 }}$

$\therefore\underline{\textsf{The amount he will have to pay after 3/2 years is \textbf{Rs. 22497.28}}}.$