Rohit purchased LCD for rupees 20000 he promised to pay back the full amount along with interest after 2 years If the shopkeeper charges interest at the rate of 20% per annum compounded half yearly calculate the compound interest he will have to pay
Answers
Answered by
1
Answer:
20000-10000=10000
Step-by-step explanation:
we have to- the 20000 by 10000
Answered by
0
Step-by-step explanation:
The loan taken by Rohit =Rs20000.
Original rate =10%. Time =3yrs.
∴ The original amount should have been paid
=Principal×(1+rate)
time
=20000Rs(1+
100
10
)
3
=Rs26620..
But he paid an interest @ 10% for 2yrs.
∴The amount after 2yrs.
=20000Rs(1+
100
10
)
2
=Rs24200..
Now he pays 15% interest for 1yr.
∴ The amount after 1yr.
=24200×Rs(1+
100
15
)
=Rs27830..
So, the extra amount Rohit has to pay
=Rs(27830−26620)=Rs1210.
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