What amount has to be paid to on a loan of Rs 12000 for 1½ years at 10%
per annum compounded half yearly?
Answers
Answered by
50
Answer:
Rs 13,891.50
Step-by-step explanation:
Loan amount = Rs 12,000
Period = 3 (1 1/2 years is 3 half yearly)
Interest rate = 10%
Amount to be repaid = 12000( 1 + 0.1/2)³
Amount to be repaid = Rs 13,891.50
Answer: The amount to be repaid is Rs 13,891.50
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Answered by
16
Answer:-
Given:-
- Repaid on a loan of 12000 for 1 ¹/₂ year at 10%
To find:-
- What amount has to be paid
Solution:-
As interest is compounded half yearly, so number of conversion periods in rate of half year = ¹/₂ × 10% = 5%
A = p(1+R/100)^n
Here,
P = 12000
n = 3
R = 5
A = 12000(1+5/100)³
⇒12000(105/100)³
⇒RS. 13891.50
Then, compound interest = A-P
⇒13891.50 - 12000
⇒RS.1891.50
Here, the amount is " RS.1891.50"
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