Rahul gave loan of Rs 12,288 to Aryan at the rate of 12.5%per annum. Calculate the amount that aryan has to pay to rahul after 3/2 years ,if the interest was compounded half- yearly. .
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Answer:
14573.25
Step-by-step explanation:
Loan amount of Rahul gave to Aryan =12,288
interest per annum as to pay Aryan = 12.5%
3/2 years = 1year 6months
interest per 1months =
interest of 6months =1.0416667×6
=6.25
total interest =12.5+6.25 = 18.50%
interest amount =
Total amount that Aryan has to pay to Rahul =
12,288+2285.25 = 14573.25
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