Sadabhau borrowed rs. 75,000 From a national isd bank at the rate of an P.c.p.a How much amount he must return to bank after 4 years to repay the loon?
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1
Answer:
Given that P=75000
R=12%
T=
2
3
years
To find the amount :
(i) when compounded annually,
A=P(1+
100
R
)
T
A=75000(1+
100
12
)
2
3
A=Rs.88897.2
(ii) when compounded half yearly,
A=P(1+
200
R
)
2T
A=75000(1+
200
12
)
2×
2
3
A=Rs.89326.2
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