Question

Mukesh borrowed rupees 75000 from a bank at the rate of interest is 12% per annum find the amount he would be paying after one and half year if the interest is compounded half yearly​

Answer 1

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Hey ✌

If Mukesh borrowed 75,000 from a bank and the rate of interest is 12% per annum,

Then , 12% of 75,000

=> ₹(12 × 75,000 / 100)

=> ₹(12 × 750)

=> ₹9,000

Total interest per annum = ₹(75,000+9,000)

= ₹ 84,000

In one and half years = ₹ (84,000 + 42,000)

= ₹ 1,26,000

Compound interest = 12% of 84000

= ₹ 10080

Compounding annually = ₹ (10080 + 84000)

= ₹ 94080

hope it helps u ☝