Question

Mr. Tarun needs Rs. 6,50,000 as loan for reconstruction of his house. He want repay full amount

after 5 years. For this, he makes a survey. After survey he finds that

I) Interest in S. B. I. Is 8% Per annum compounded annually

II) Interest in Cooperative Bank is 6% per annum compounded half yearly.​

Answer 1

Answer:

Step-by-step explanation:

Answer 2

1. Principal for the first three year = Rs 50,000
3. Principal for the first three year = Rs 50,000Rate of interest = 6%
5. Principal for the first three year = Rs 50,000Rate of interest = 6%Interest for first three years = PRT = 50,000 × (6/100) × 3 = Rs 9,000

Principal for the first three year = Rs 50,000Rate of interest = 6%Interest for first three years = PRT = 50,000 × (6/100) × 3 = Rs 9,000Principal amount returned after three years = Rs 17,700/Principal for the next two years = Rs 50,000 -Rs 17,700 = Rs 32, 300Interest on this sum for 2 years @ 2% = 32,300 × (6/100) × 2 = Rs 3876