Q. 553.5( 4 Votes )

# Sangeeta lent Rs. 40960 to Amar to purchase a shop at 12.5% per annum. If the interest is compounded semi annually find the interest paid by Amar after 3/2 years?

Answer :

Let the principal amount is Rs. 40960

R = 12.5% per annum

Time(n) = 3/2 years

But the interest computed semi annually so the time

By using

A = 40960 × 1.4238

A = 58320

Interest paid in the last year,

I = 58320 – 40960

I = 17360

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