Question

Ritu took a loan of 90,000 from a friend. If the rate of interest is 10% p.a. find difference on amount she
would pay after 1% years of interest is
(i) compounded annually
(ii)compounded half yearly​

Answer 1

Answer:

1. 9000
2. 9225

Step-by-step explanation:

1. 90000 x 110/100 = 99000

• Hence she has to pay 99000 - 90000 = 9000

2. 90000 x 105/100 x 105/100 = 99225

• Hence she has to pay 99225 - 90000 = 9225

Hope it helps