Urmi lent rs 40960 to neelam to purchase a shop at 12.5% per annum.if if the interest is compounded semi annually find interest paid by Neelam after one integer one by two years
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Answer:
P=Rs.40960
R=12.5%p.a.
Semi- annually after t=
2
3
yrs.
CI=P(1+
100
R/2
)
2n
CI=40960(1+
100
12.5/2
)
2×
2
3
CI=49130Rs.
Interest =Rs.49130−40960Rs.8170
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