Q. 94.2( 5 Votes )

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

Answer :

Given,


Principal = Rs.57600


Rate = 12-% per annum =


Time = 1 years =


Hence,


Compound interest =


= 57600


So,


Amount that Kamal pays to LIC after 1- years = Rs.(57600 + 11489.06) = Rs.69089.06


Rate this question :

How useful is this solution?
We strive to provide quality solutions. Please rate us to serve you better.
Related Videos
Compound InterestCompound InterestCompound Interest39 mins
Concept of Compound InterestConcept of Compound InterestConcept of Compound Interest50 mins
Quiz | Simple & Compound InterestQuiz | Simple & Compound InterestQuiz | Simple & Compound Interest35 mins
Application of Compound InterestApplication of Compound InterestApplication of Compound Interest38 mins
RD Sharma | Compound InterestRD Sharma | Compound InterestRD Sharma | Compound Interest38 mins
Quiz |  Calculating Compound Interest Really Compound?Quiz |  Calculating Compound Interest Really Compound?Quiz | Calculating Compound Interest Really Compound?46 mins
Taxes, Discount and Compound InterestTaxes, Discount and Compound InterestTaxes, Discount and Compound Interest34 mins
Goprep Genius Quiz | Taxes, Discount and Compound InterestGoprep Genius Quiz | Taxes, Discount and Compound InterestGoprep Genius Quiz | Taxes, Discount and Compound Interest25 mins
Become Proficient in Simple InterestBecome Proficient in Simple InterestBecome Proficient in Simple Interest36 mins
One Step Ahead of Simple InterestOne Step Ahead of Simple InterestOne Step Ahead of Simple Interest44 mins
Try our Mini CourseMaster Important Topics in 7 DaysLearn from IITians, NITians, Doctors & Academic Experts
Dedicated counsellor for each student
24X7 Doubt Resolution
Daily Report Card
Detailed Performance Evaluation
caricature
view all courses