Question

Ramesh took a loan of rupees 100000 at 12% per annum compounded half yearly pad rupees 112360 if (1.06^2)is equal to 1.1236 then find the period which took the loan ​

Answer 1

Answer:

Therefore the time period is 1 year.

Step-by-step explanation:

The correct answer is option (b).

Given, principal (P)=Rs.100000

Rate of interest (R%)=12% per annum

( Compound half - yearly )

Suppose, m be the time period

Amount paid =Rs.112360

We know that, when amount is interested compounded half- yearly the formula is

A=P(1+ 200R ) 2n , here n is the time period. Now by using this formula,112360=100000(1+ 20022 )2nor ( 5053 ) 2n = 100000112360or ( 5053 ) 2n = 25002809or ( 5053) 2n =( 5053 ) 2n

Comparing both of the above equation,

We get,

2n=2

n=1

Therefore the time period is 1 year.