+91-87964 74404
FlagBACK
Question icon
Grade 128 grade maths

Arif took a loan of ₹ 80,000 from a bank. If the rate of interest is 10% per annum, find the difference in amounts he would be paying after 1whole 𝟏/𝟐 years if the interest is
Compounded half yearly

Profile image of Pawan Prajapati
5 Years agoGrade 12
Answers icon

1 Answer

Profile image of Harshit Singh
5 Years ago
Dear Student

The interest is compounded half yearly.
Rate = 10% per annum = 5% per half year
There will be three half years in 1 whole 1/2years.
Amount, A =P (1 +R/100 )^n
=₹ [8000(1+5/100 )^3]
=₹ [8000 × (105/100)^3]
=₹92610
Difference between the amounts =₹ 92,610 − ₹92,400 =₹210​
​
​Thanks

Other Related Questions on 8 grade maths

question mark

WHAT ARE THE FORMULAS FOR FINDING THE INITAL SPEED

8 grade maths
1 Answer Available

Last Activity: 9 Months ago

question mark

What is the formula of \[{x^2} + {y^2} + {z^2}?\

8 grade maths
1 Answer Available

Last Activity: 1 Year ago

question mark

What is a dodging number?

8 grade maths
1 Answer Available

Last Activity: 1 Year ago

question mark

What is the value of $ 5 $ million dollars in Indian rupees given that one dollar is equal to $ 75 $ Indian rupees.

8 grade maths
1 Answer Available

Last Activity: 1 Year ago

question mark

How many perfect cubes can you find from 1 to 100? How many from -100 to 100?

8 grade maths
1 Answer Available

Last Activity: 1 Year ago