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Laloo lent Baloo 32,500 to purchase.acar at 12.5% per annum. If the interest iscompounded semi-annually find the interestpaid by Baloo after 1 ½ years. |
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Answer» Principal = Rs 32500Rate of interest per annum = 12.5 %Rate of interest per half year = 12.5/2 = 6.25 %Time = 3/2 yearAmount at compound interest = P[1 + r/100]n= 32500[1 + 6.25/100]^2*3/2= 32500[1.0625]³= 32500 x 1.1995= 38,983.75 Compound interest = 38,983.75 - 32500= Rs 6,483.75Interest paid by laloo after 3/2 year = Rs 6,483.75 |
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