Raman borrowed Rs. 10,000 at 10 % p. a. compounded half yearly. What amount of money will he pay back his debt after 1year and 6 months?

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Raman borrowed Rs. 10,000 at 10 % p. a. compounded half yearly. What amount of money will he pay back his debt after 1year and 6 months?

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Quinn 1 month 2021-08-13T04:34:17+00:00 1 Answer 0 views 0

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    2021-08-13T04:36:05+00:00

    ❗ ANSWER ❗

    A sum of Rs 10,000 is borrowed at a rate of interest 15% per annum for 2 years. Find the simple interest on this sum and the amount to be paid at the end of 2 years.

    Solution :

    On Rs 100, interest charged for 1 year is Rs 10

    So, on Rs 10,000, interest charged = «math

    Amount to be paid at the end of 2 years = Principal + Interest

    Hope it’s helpful dear……..

    mehakbhatia45 ⚠️

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