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.
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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
SamarthD:
Thank you bro
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