Question

Raju took a loan of Rs 1,00,000 from a bank. If the rate of interest is 10% per annum. Find the amount he would be paying after 112 years if the interest is (i) compounded annually (ii) compounded half yearly.​

Answer 1

Step-by-step explanation:

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Answer 2

$compound \: interest \: annually \\ = {n(1 + \frac{r}{100}) }^{p} \\ \\ = 100000(1 + \frac{10}{100} {)}^{112} \\ = 100000 \times { \frac{110}{100} }^{112} \\ = 10000 \times {11}^{112} \\ =11000 {0}^{112} rupees$