Radhika borrowed 20000 rupees from a money lender at the rate of 4% per annum for1*1/2 years compounded half yearly find the amount she has to pay at the end of 1*1/2 years
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Answer:
Amount = P [ 1 + r/200]²ⁿ
= 20000 [1 + 4/200]³
= 20000 x 51/50 x 51/50 x 51/50
= 20000 x 132651/125000
= 21224.16
Amount = Rs. 21224.16
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