Zaved got a loan of Rs. 8,000 against his fixed deposits to purchase a

1.	Zaved got a loan of Rs. 8,000 against his fixed deposits to purchase a scooter. If the rate of interest is 10% per annum compounded half - yearly, find the amount that he will pay after a year and a half.
Answer» ANSWER: ZAVED got a loan so Principal (P ) = Rs 8000 Rate (R) = 10% time ( T ) 1 year compounded interest yearly Amount = P × (1+ R/100)^T = 8000 ( 1 + 10 / 100) ^1 = 8000 × 100+10/100 =8000×110/100 =8800 Now Time ( t) = 6month compounded interest half year Amount = P ( 1+ R/ 2×100)^2t =8000 (1+10/200)^12 Month =8000 × (1 +5/100)^1 year =8000 ×100+5/100 =8000×105/100 =8400

Zaved got a loan of Rs. 8,000 against his fixed deposits to purchase a scooter. If the rate of interest is 10% per annum compounded half - yearly, find the amount that he will pay after a year and a half.

Answer»

ZAVED got a loan so

Principal (P ) = Rs 8000

Rate (R) = 10%

time ( T ) 1 year

compounded interest yearly

Amount = P × (1+ R/100)^T

= 8000 ( 1 + 10 / 100) ^1

= 8000 × 100+10/100

=8000×110/100

=8800

Now

Time ( t) = 6month

compounded interest half year

Amount = P ( 1+ R/ 2×100)^2t

=8000 (1+10/200)^12 Month

=8000 × (1 +5/100)^1 year

=8000 ×100+5/100

=8000×105/100

=8400