Math, asked by reshmasingh1984, 5 days ago

Raghav borrowed 20,000 from his friend. If the rate of interest is 10% per annum, find the amount he would be paying after 12 years to his friend if the interest is compounded half yearly.​

Answers

Answered by hritikk0708
0

Answer:

HOPE THIS WILL HELP YOU

Step-by-step explanation:

search-icon-header

Search for questions & chapters

search-icon-image

Question

Bookmark

Vikram borrowed 20000 from a bank at 10% per annum simple interest . He lent it to his friend Venkat at the same rate but compounded annually. Find his gain after 2 years.

Medium

Solution

verified

Verified by Toppr

First case

Principal= 20000

Rate = 10% p.a

Period = 2

2

1

=5/2years

We know that

Simple interest = Prt/100

Substituting the values

=(20000×10×5)/(100×2)

= 5000

Second case -

Principal = 20000

Rate = 10% p.a.

Period = 2

2

1

years at compound interest

We know that

Amount = P(1+r/100)

n

Substituting the values

=20000(1+10/100)

2

(1+10/(2×100))

2

By further calculation

= 20000×11/10×11/10×21/20

= 25410

Here

Compound interest = A - P

Substituting the values

= 25410−20000

= 5410

So his gain after 2 years = CI - SI

We get

= 5410−5000

= 410

Similar questions