Q. 63.9( 27 Votes )

Mohd. Aslam purch

Answer :

Initial value, P = Rs.125000


Interest rate, R = 12% per annum


Time, n = (1 + 1/2) years = 3/2 years


Compounded half-yearly.


Amount (A) = P [1 + (R/2)/100]2n [Where, P = Present value


R = Annual interest rate


n = Time in years]


A = 125000 [1 + (12/2)/100]3 [n = 3/2 years]


A = 125000 [1 + 6/100]3


A = 125000 [1 + 3/50]3


A = 125000 [53/50]3


A = 125000 × 53/50 × 53/50 × 53/50


A = 125000 × 148877/125000


A = 1 × 148877


A = 148877


Amount = Rs.148877


Compound interest = Rs.(148877 – 125000) [CI = A – P]


= Rs.23877


Rs.23877 interest paid by Aslam after (3/2) years.


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