what amout is to repaired on a loan of ₹12000 for 1 year 6 months at 10% per annum compounded half yearly
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Answer:
₹13891.50
Step-by-step explanation:
When compounded half-yearly, the rate is halved and the time is doubled.
Principal (P) = ₹12000
Rate (R) = (10÷2)% = 5%
Time (n) = 1½ years = (3/2 × 2) years = 3 years
Amount (A) = P (1 + R/100)ⁿ
=> A = 12000 (1 + 5/100)³
=> A = 12000 (21/20)³
=> A = ₹13891.50
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