Question

pays rs 15000 at the end of each year for ten years and the earn an annual interest of 11%​

Answer 1

Answer:

Rs. 16,537.50

Explanation:

P= Rs. 15000; R=10% p.a =5% per half-year; T=1 year =2 half-years.

∴ Amount =[15000×(1+ 5/100)^2]

= Rs. (15000× 21/20 ×21/20)

=16,537.50