Rachna borrows Rs.12,000 at 10 per cent per annum interest compounded half-yearly. She repays Rs. 4,000 at the end of every six months. Calculate the third payment she has to make at the end of 18 months in order to clear the entire loan.

Rachna borrows Rs.12,000 at 10 per cent per annum interest compounded

1.	Rachna borrows Rs.12,000 at 10 per cent per annum interest compounded half-yearly. She repays Rs. 4,000 at the end of every six months. Calculate the third payment she has to make at the end of 18 months in order to clear the entire loan.
Answer» Rachna borrows Rs.12,000 at 10 per cent per annum interest compounded half-yearly. She repays Rs. 4,000 at the end of every six months. Calculate the third payment she has to make at the end of 18 months in order to clear the entire loan.