What amount is to be paid on a loan of rupees 12000 for 1.5 year at 10% per annum compounded half yearly?
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Given .
Principal amount =P=12000
Duration/Time = n = 1.5 years ; compounded Half yearly..so 1.5×2 =3 Periods
Rate of Interest Per annum= i = 10%
Required to find is A = compounded Amount
we know That..
For compound amount...
A=P(1+i)^n
substituting above information..
A = 12000(1+10/100)3
A= 12000(1+0.1)^3
A= 12000(1.331)
A=15,972
so the compounded amount= 15972
Principal amount =P=12000
Duration/Time = n = 1.5 years ; compounded Half yearly..so 1.5×2 =3 Periods
Rate of Interest Per annum= i = 10%
Required to find is A = compounded Amount
we know That..
For compound amount...
A=P(1+i)^n
substituting above information..
A = 12000(1+10/100)3
A= 12000(1+0.1)^3
A= 12000(1.331)
A=15,972
so the compounded amount= 15972
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