Question

Michael borrowed ₹16000 from a finance company at 10% per annum , compounded half yearly. What amount of money will discharge his debt after 3/2 years

Answer 1

꧁SOLUTION ꧂

✧♥༻༺♥✧

✼GIVEN✼

• PRINCIPAL=₹16000
• Time half yearly

✼NOTE- If Time is given half yearly than we have to write

• TIME=3/2=3/2*2=3
• RATE=10%=10/2=5%

✼FIND:- AMOUNT PAID BY MICHAEL✼

✼According to the above information✼

• by using the formula of amount

$↪a = p(1 + \frac{r}{100} ) {}^{n} \\ \\ ↪a = 16000(1 + \frac{5}{100} ) {}^{3} \\ \\ ↪a = 16000( \frac{105}{100} ) {}^{3} \\ \\ ↪a = 16000 \times \frac{105}{100} \times \frac{105}{100} \times \frac{105}{100} \\ \\ ↪a = \frac{16 \times 105 \times 105 \times 105}{10 \times 100} \\ \\ ↪a = 18522$

✼HENCE:-

• AMOUNT PAID BY MICHAEL IS ₹18522

Answer 2

Answer:

here is your answer ......