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Geeta borrowed Rs. 15,000 for 18 months at a certain rate of interest compounded semi-annually. If at the end of six months it amounted to Rs. 15,600; calculate : (i) the rate of interest per annum. (ii) the total amount of money that Geeta must pay at the end of 18 months in order to clear the account. |
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Answer» Geeta borrowed Rs. 15,000 for 18 months at a certain rate of interest compounded semi-annually. If at the end of six months it amounted to Rs. 15,600; calculate : (i) the rate of interest per annum. (ii) the total amount of money that Geeta must pay at the end of 18 months in order to clear the account. |
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