. Mukesh borrowed 75000 from aIf the rate of interest is 12% per annum

1.	. Mukesh borrowed 75000 from aIf the rate of interest is 12% per annum, findthe amount he would be paying after 1; years if the interest is(i) compounded annually(ii) compounded half-yearly
Answer» If Mukesh borrowed 75,000 from a bank and the rate of interest is 12% per annum, Then , 12% of 75,000=> ₹(12 × 75,000 / 100)=> ₹(12 × 750)=> ₹9,000 Total interest per annum = ₹(75,000+9,000)= ₹ 84,000 In one and half years = ₹ (84,000 + 42,000)= ₹ 1,26,000 Compound interest = 12% of 84000= ₹ 10080 Compounding annually = ₹ (10080 + 84000)= ₹ 94080

. Mukesh borrowed 75000 from aIf the rate of interest is 12% per annum, findthe amount he would be paying after 1; years if the interest is(i) compounded annually(ii) compounded half-yearly

Answer»

If Mukesh borrowed 75,000 from a bank and the rate of interest is 12% per annum,

Then , 12% of 75,000=> ₹(12 × 75,000 / 100)=> ₹(12 × 750)=> ₹9,000

Total interest per annum = ₹(75,000+9,000)= ₹ 84,000

In one and half years = ₹ (84,000 + 42,000)= ₹ 1,26,000

Compound interest = 12% of 84000= ₹ 10080

Compounding annually = ₹ (10080 + 84000)= ₹ 94080