what amount is to be repaid on a loan of rupees 25000 for 1 1/2 years at 10% per annum compounded half yearly
Answers
Answered by
1
Step-by-step explanation:
As interest is compounded half yearly, so number of conversion periods in 1
2
1
years is 3, So n=3
rate for half year =
2
1
×10%=5%
A=P(1+
100
R
)
n
A=12000(1+
100
5
)
3
=12000(
100
105
)
3
=Rs.13891.50
Compound interest =A−P
=13891.50−12000
=Rs.1891.50
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