Question

Ramesh took a loan of Rs 80000 from a bank at 12% per annum and paid back after 7 months together with interest find the amount to be paid to bank .


Please explain with proper explanation ​

Answer 1

Answer:

1) Compounded Annually :

P=Rs.80000

R=10% p.a.

T=1

2

1 years ⟹n=1+ 21Amount for 1st year.

A=P[1+

100 ] n =Rs.80000[1+ 10010 ]=Rs.88000

SI on Rs. 88000 for next 1/2 year

=Rs.88000×

100

10×2

1=Rs.4400

Therefore, Amount = Rs.88000+Rs.4400 = 92400Rs.

2) Compounded half yearly :

P=Rs.80000

R=10% p.a.=5% per half year

T=1 21 years ⟹n=3

A=Rs.80000[1+ 11005 ] 3

A=Rs.92610

Thus, the difference between the two amounts = Rs.92610−Rs.92400 =Rs.210

Step-by-step explanation:

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