Question

Mike borrowed Rs. 16000 from a finance company at 10% per annum, compounded half-yearly. What amount of money will discharge his debt after 1 1/2 years
can u tell the answer fast


​

Answer 1

Answer:

p=16000

r=5%

n=3 years

total debt= p(1+r/100)n

16000(1+5/100)³= 16000*(105/100)*(105/100)*(105/100)

=18552