3. Reema borrowed764,000 from a bank for 11 years at the rate of 10% p

1.	3. Reema borrowed764,000 from a bank for 11 years at the rate of 10% per annum compoundedhalf-yearly. Compute the total compound interest Reema will pay to the bank.
Answer» Given: P = 64,000 R = 10% p.a. n = 1.5 years Amount after n years: A =P(1+R/200)²ⁿ A =64000(1+10/200)³ A =64000(210/200)³ A = Rs 74,088 Now, CI = A – P = Rs 74,088 – Rs 64,000 = Rs 10,088

3. Reema borrowed764,000 from a bank for 11 years at the rate of 10% per annum compoundedhalf-yearly. Compute the total compound interest Reema will pay to the bank.

Answer»

Given:

P = 64,000

R = 10% p.a.

n = 1.5 years

Amount after n years:

A =P(1+R/200)²ⁿ

A =64000(1+10/200)³

A =64000(210/200)³

A = Rs 74,088

Now, CI = A – P = Rs 74,088 – Rs 64,000 = Rs 10,088