Mukesh borrowed ₹75000 from a bank. If the rate of interest is 12% per annum, find the amount he would paying after 3/2 years if the interest is compounded half yearly
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Answer:89326.2 (approx)
Step-by-step explanation:
As we know the formula
A=P[ 1+R/200]^2n
Substituting the values
P=75000, R=12, n=3/2 [Compounded half yearly]
At last we get the answer
The above formula is applied for amount to be found at the time compounded half yearly cases
Hope u understood
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