Question

Mukesh borrowed 75000 from a bank if the rate of interest is 12% per annum find the amount he would be paying after 3 upon 2 years if the interest is - compounded half yearly​

Answer 1

Answer:

₹99,187.5

Step-by-step explanation:

If Mukesh borrowed 75,000 from a bank and the rate of interest is 15% per annum,

Then , 15% of 75,000

⇒

100

15×75,000

⇒15×750=Rs.11,250‬

Total interest per annum = Rs.(75,000+11,250‬)=Rs.86,250‬

In one and half years =Rs86,250‬+

2

86250

=86,250‬+43125=Rs.1,29,375

Compound interest =15% of Rs.86,250‬=

100

15

×86250=Rs.12,937.5‬

Compounded annually=Rs.12,937.5+86,250=Rs.99,187.5‬