Question

Michael borrowed rupees 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:-
There is a mistake in the question. The number of years should be 3/2 years instead of 3 2 years.
Principal or P = Rs. 16000
Rate of interest or R = 10 % per annum or 5 % per half year.
Time or n = 3/2 = 3 half years.
So,
A = P [1 + R/100]^n
⇒ 16000 [1 + 5/100]³
⇒ 16000 × 105/100 × 105/100 × 105/100
= Rs. 18522   Answer.
 

Answer 2

Answer:

Step-by-step explanation:

Principle=16000rs.

Time=3/2years

Rate=10%

=16000*(1+5/)^3

=16000*(105/)^3

=16000*(105/) (105/) (105/)

After cutting,

2*21*21*21

=18522rs.