Question

what amount is to be repaid on a loan of ₹12000 for 1½year at 10% per annum if interest is compounded half yearly​

Answer 1

Answer:

The amount to be repaid is 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