Question

What amount has to be paid to on a loan of Rs 12000 for 1½ years at 10%

per annum compounded half yearly?​

Answer 1

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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Answer 2

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"