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Reena borrowed 512000 from a bank for 9 months.if the bank charges interest at the rate of fifth upon two %per annum find the compound half yearly

Reena borrowed 512000 from a bank for 9 months.if the bank charges  interest  at the rate of fifth upon two %per annum find the compound half yearly 

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Grade:9

1 Answers

Anish Singhal
askIITians Faculty 1192 Points
5 years ago
Interest rate is compunded quarterly, hence value of n for 9 months will be 3,
A=P(1+r/100)^n
use this formula to calcualte total amount and for interest find A-P.

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