Question

Sumit borrowd ₹36000from a financier at 25% per annum compound half yearly. What amount of mony will discharge his debit after half year​

Answer 1

Answer:

Principal amount (P)=Rs.16000

Rate of interest, (R)=10% per annum or 5% per half year.

Time (n)=121=23 years.

∴A=P(1+100R)n

⇒=16000(1+1005)3

⇒=16000×(100105)3

⇒=Rs.18522