What amount is to be repaid on a loan of 10,000 for 1/2 years at 10% per annum compounded half yearly.
Answers
Answered by
1
Answer:
11000
Step-by-step explanation:
Since we know that
A=P(1+R/100)2×n
A=10000(1+10/100)2/2
A= 10000(100+10/100)
A=10000(110/100)
A=10000×110/100
A=1100000×100
A=11000
Therefore amount to be paid is 11000
Answered by
2
Step-by-step explanation:
As interest is compounded half yearly, so number of conversion periods in 1/2 year is 2
=N=2
rate for half year=1/2×10%=5%
A= P( 1+ R/100)n
A= 10000( 1+ 5/100)²
=10000(105/100)²
=10000(11025/10000)
=10000(21/20)
=10500
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