Roma borrowed Rs. 64000 from a bank for 1 1/2 years at the rate of 10%

1.	Roma borrowed Rs. 64000 from a bank for 1 1/2 years at the rate of 10% per annum. Compare the total compound interest payable by Roma after 1 1/2 compound interest payable by Roma after
Answer» Given, Principal = Rs. 64000 Time \(={1}\frac{1}{2}\) years \(=\frac{3}{2}\times{2}\) = 3 half years Rate \(={10}\text%\) \(=\frac{10}{2} \) \(={5}\text%\) half yearly Compound interest \(={P}[({1}+\frac{R}{100})^T-{1}]\) \(={64000}[({1}+\frac{5}{100})^3-{1}]\) \(={64000}\times\frac{1261}{8000}\) =Rs. 10088

Roma borrowed Rs. 64000 from a bank for 1 1/2 years at the rate of 10% per annum. Compare the total compound interest payable by Roma after 1 1/2 compound interest payable by Roma after

Answer»

Given,

Principal = Rs. 64000

Time \(={1}\frac{1}{2}\) years

\(=\frac{3}{2}\times{2}\)

= 3 half years

Rate \(={10}\text%\)

\(=\frac{10}{2} \)

\(={5}\text%\) half yearly

Compound interest

\(={P}[({1}+\frac{R}{100})^T-{1}]\)

\(={64000}[({1}+\frac{5}{100})^3-{1}]\)

\(={64000}\times\frac{1261}{8000}\)

=Rs. 10088