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Chapter-Compound interest
Question :-
Mr Arora borrowed $40,960 from a bank to start a play school.if the bank charges 25/2% per annum compounded half-yearly ,what amount will he have to pay after 3/2 years?
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Answered by
40
Heya user ,
Here is your answer !!
_________
Principal = $ 40,960
Rate = 25/2 % p.a.
Time = 3/2 yrs compounded half yearly
So , number of terms = 3 .
Now , Amount = P ( 1 + R / 100 * 2 )^n
Amount = $ 40,960 ( 1 + 25 / 400 )³
= $ 40,960 * ( 425 / 400 )³
= $ 40,960 * ( 17 / 16 )³
= $ 40,960 * 4913 / 4096
= $ 10 * 4913
= $ 49130 . [ Answer ] .
_________
Hope it helps !!
Here is your answer !!
_________
Principal = $ 40,960
Rate = 25/2 % p.a.
Time = 3/2 yrs compounded half yearly
So , number of terms = 3 .
Now , Amount = P ( 1 + R / 100 * 2 )^n
Amount = $ 40,960 ( 1 + 25 / 400 )³
= $ 40,960 * ( 425 / 400 )³
= $ 40,960 * ( 17 / 16 )³
= $ 40,960 * 4913 / 4096
= $ 10 * 4913
= $ 49130 . [ Answer ] .
_________
Hope it helps !!
Reshav1:
ok
therefore rate is also halved
so ( 1 + r /100* 2 )
But in question rate is already in half yearly
now r is 25/2 ... if u put the value in the equation .. u will get 425/400
no
that rate is given for each year
oh
thanks
u r welcm
Answered by
10
Hope best answer in world
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