Series borrowed a sum of 163840 at 12.5% per annum compounded annually on the same day he lent out the same amount to sahej at the same rate of interest but compounded half yearly find his gain after 2 years
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Answer:
1442.5.
Step-by-sTEP;
1PART
We know that A = P(1+r/100)^n
= 163840(1+12.5/100)^2
= 163840(112.5/100)^2
= 2048 * 22.5 * 4.5
= 207360.
2 PART
A = P(1+r/100)^n
= 163840(1+6.25/100)^4
= 163840(106.25/100)^4
= 208802.5
Gain after 2 years = (44962.5 - 43520)
= 1442.5.
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