Question

Raju borrowed ₨40,000 from his friend to buy a bike at a rate of 15% per annum compounded yearly.what amount will he pay to his friend at the end of 2 years and 6 months.​

Answer 1

Answer:

thanks for free points

Answer 2

Answer:

He'll have to pay ₹ 56,867.50

Step-by-step explanation:

Compound Interest for 1st year =

40,000 × 15 × 1

100

= 6,000

New Amount = ₹46,000

Compound interest for 2nd year = 46,000 × 15 × 1

100

= 6,900

New Amount = ₹52,900

Compound interest for the next half year ( 6 months = 6/12 = 1/2 ) = 52,900 × 15 × 1

100

= 3,967.5

Amount to be paid at the end = 52,900 + 3,967.5 = ₹ 56,867.5

Hope it helps!!!!