Vikas borrowed Rs.25000 from his friend at 20% per annum compounded half-yearly. Find the amount of money, which will discharge his debt after 11 years.
Answers
Compounded Annually
Principal = Rs25000
Rate = 20% pa
Time = 3 yrs n = 3
Amount = P(1+R/100)^n
=Rs25000(1+20/100)³
=Rs25000(100+20/100)³
=Rs25000(120/100)³
=Rs25000×60/50×60/50×60/50
=Rs60×60×60/5
=Rs216000/5
=Rs43200
Compounded Half yearly
Principal=Rs25000
Rate=20%P.A. 20/2=10
Time=3yrs n=3×2=6
Amount=P(1+R/100)^n
=Rs25000(1+10/100)^6
=Rs25000(100+10/100)^6
=Rs25000(110/100)^6
=Rs25000×11/10×11/10×11/10×11/10×11/10×11/10
=Rs25×1331×1331/1000
=Rs44289025/1000
=Rs44289.025
Now will be subtract
Rs44289.025-Rs43200
=Rs1089.025
He will have profit of Rs 1089.025.
❣️❣️Hey mate ❣️❣️
Here is the solution:- .
Principal Vikas borrowed = Rs. 25000
Rate = 20% / half yearly = 10% per half year
Time = 11 years
as we know , there are 2 half year in year
Then, number of half year in 11 years = 22 half - years .
Amount = P ( 1+ R/100)^t
=> 25000 × ( 1 + 10/100)²²
=> 25000 × (110/100)²²
=> 203506.873
Amount = Rs. 203506.873
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