Kamal borrowed Rs 57600 from LIC against her policy at $12 \frac{1}{2} %$ per annum to build a house. Find the amount that she pays to the LIC after $1 \frac{1}{2}$ years if the interest is calculated half-yearly.

Open in App

Solution

$Given : P = Rs 57, 600 R = 12.5 % p . a . n = 1.5 years When the interest is compounded half - yearly, we have : A = P {(1 + \frac{R}{200})}^{2 n} = Rs 57, 600 {(1 + \frac{12.5}{200})}^{3} = Rs 57, 600 {(1.0625)}^{3} = Rs 69, 089.06 Thus, the required amount is Rs 69, 089.06 .$

Suggest Corrections

Similar questions

Q. Swati borrowed Rs 40960 from a bank to buy a piece of land. If the bank charges

12 \frac{1}{2} %

per annum, compounded half-yearly, what amount will she have to pay after

1 \frac{1}{2}

years? Also, find the interest paid by her.

Q. Swati borrowed

R s . 40960

from a bank to buy a piece of land. If the bank charges

12 \frac{1}{2}

% per annum compound half-yearly, what amount will she have to pay after

1 \frac{1}{2}

years? Also find the interest paid by her.

Mukesh borrowed $R s .75000$ from a bank. If the rate of interest is $12 %$ per annum, find the amount he would be paying after $1 \frac{1}{2}$ years if the interest is compounded half-yearly.

Q. Roma borrowed Rs 64000 from a bank for

1 \frac{1}{2}

years at the rate of 10% per annum. Compute the total compound interest payable by Roma after

1 \frac{1}{2}

years, if the interest is compounded half-yearly.

Swati borrowed $R s . 40960$ from a bank to buy a piece of land. If the bank charges $12 \frac{1}{2} %$ per annum, compounded half-yearly, what amount will she have to pay after $1 \frac{1}{2}$ years? Also, find the interest paid by her.

Join BYJU'S Learning Program

Kamal borrowed Rs 57600 from LIC against her policy at 1212% per annum to build a house. Find the amount that she pays to the LIC after 112 years if the interest is calculated half-yearly.

Given: P=Rs 57,600R=12.5% p.a.n=1.5 yearsWhen the interest is compounded half-yearly, we have: A=P1+R2002n =Rs 57,6001+12.52003 =Rs 57,6001.06253 =Rs 69,089.06Thus, the required amount is Rs 69,089.06.

Kamal borrowed Rs 57600 from LIC against her policy at $12 \frac{1}{2} %$ per annum to build a house. Find the amount that she pays to the LIC after $1 \frac{1}{2}$ years if the interest is calculated half-yearly.

$Given : P = Rs 57, 600 R = 12.5 % p . a . n = 1.5 years When the interest is compounded half - yearly, we have : A = P {(1 + \frac{R}{200})}^{2 n} = Rs 57, 600 {(1 + \frac{12.5}{200})}^{3} = Rs 57, 600 {(1.0625)}^{3} = Rs 69, 089.06 Thus, the required amount is Rs 69, 089.06 .$