Question

Neha borrowed Rs 64,000 from bank for 1 1/2 years at the rate of 10% per annum. Compute the total compound interest payable by Neha after 1 1/2 years, if the interest is compound half yearly.

Answer 1

Answer:

Given,

Principal = rupees 64000

Time = 1/2 years

Rate = 10%

using formula for half yearly

A = P ( 1 + R ÷ 200 )∧2n

64000 ( 1 + 10 ÷ 200 )∧2×1÷2

64000 ( 20 + 1 ÷ 20 )

64000 × 21 ÷ 20

= 67200 Rs

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@GauravSaxena01