Ashima took a loan of Rs 1,00,000 at 12% p.a. compounded half-yearly.

1.	Ashima took a loan of Rs 1,00,000 at 12% p.a. compounded half-yearly. She paid Rs.1,12,360. If (1.06)2 is equal to 1.1236, then the period for which she took the loan is:(a) 2 years (b) 1 year (c) 6 months (d) 1(1/2) years
Answer» (b) 1 year Explanation: P = Rs.100000, R = 12% per annum compounded half-yearly. Amount = Rs.112360 Since we know, A = P (1+R/100)^T 112360 = 100000(1+12/100)^T 112360/100000 = (1+12/100)^T (1.1236)¹ = (1.12)^T If we compare the base terms, 1.1236 is approximately equal to 1.12 Hence, T = 1 year.

Ashima took a loan of Rs 1,00,000 at 12% p.a. compounded half-yearly. She paid Rs.1,12,360. If (1.06)2 is equal to 1.1236, then the period for which she took the loan is:(a) 2 years (b) 1 year (c) 6 months (d) 1(1/2) years

Answer»

(b) 1 year

Explanation:

P = Rs.100000, R = 12% per annum compounded half-yearly.

Amount = Rs.112360

Since we know,

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

112360 = 100000(1+12/100)^T

112360/100000 = (1+12/100)^T

(1.1236)¹ = (1.12)^T

If we compare the base terms, 1.1236 is approximately equal to 1.12

Hence, T = 1 year.