Question

Mr arora borrowed rs.40960 from a bank to start a play school.if the bank charges 12×1÷2% per annum compounded half yearly, what amount will he have to pay after 1×1÷2 years?

Answer 1

Thank you for asking this question. Here is your answer:

P = 40960

R = 25/2 %

T = 3/2 years

Compounded half yearly

A = P( 1 + R/100)⁷

R = 25/2 x 1/2

T = 3/2 x 2

A = 40960(1+ 25/2 x 1/2 x 1/100) ^ 3/2 x 2

= 40960 ( 1 + 1/16) ^3

= 40960 (17/16)^3

A = 40960 x 17/16 x 17/16 x 17/16

= 10 x 17 x 17 x 17

A = 49130

49130 is the final answer for this question.

If there is any confusion please leave a comment below.

Answer 2

Answer:

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