Question

Mohit borrowed a sum of 16000 rs from a finance company at 10% per annum, compounded half yearly. what amount of money will discharge his debt after 1½ years
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Answer 1

Answer:

principal = 16000

rate = 10%

time. =3/2

si = p×r×t/ 100

si. = 16000×10×3/100×2

160×15 = 2400