*Simran borrows a sum of Rs. 35,000 from a bank at 6% per annum compounded half yearly. Determine the amount she needs to pay back to the bank after 1.5 years.
Answers
Answered by
1
Answer:
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Answered by
0
Answer:
P=35,000
R=6%
n=
2
3
years =1.5year
In question given that the interest is compounded half yearly, So,
R=6×
2
1
=3%
n=
2
3
×2=3
So by formula
A=P(1+
100
R
)
n
=35000(1+
100
3
)
3
=35000×
100
103
×
100
103
×
100
103
=
1000
35×103×103×103
=38,244Rs
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