Question

What amount is to be repaid on a loan of rupee 12000 for 1 1/2 years at 10 per annum compounded half yearly?

Answer 1

Step-by-step explanation:

12900 is the answer to ur question

Answer 2

Principal for first 6 months = ₹12,000

There are 3 half years in 1 1/2 years.

Therefore,compounding has to be done 3 times.

Rate of Interest = half of 10%

= 5% half yearly

A = P (1+R/100)^n

= ₹ 12000 (1+5/100)^3

= ₹12000×21/20×21/20×21/20

= ₹13,891.50