8) Arif took a loan of 80,000 from a bank. If the rate of interest is 10% per annum, find the difference in
amounts he would

2 thoughts on “8) Arif took a loan of 80,000 from a bank. If the rate of interest is 10% per annum, find the difference in<br />amounts he would”

1. Answer:

   42984

   Step-by-step explanation:

   Principal = 80000

   Rate = 10

   Time period = 5 complete yrs. and 1 half year

   Amount = P (100+r/100)^T

   = 80000 (100+10/100)^5 × (100+5/100)^1

   = 80000 (110/100)^5 × (105/100)

   = 80000 (11/10)(11/10)(11/10)(11/10)(11/10)(105/100)

   = 8 (121)(121)(105/100)

   = 2 (121)(121)(105/25)

   = 242(121)(21/5)

   = 29282(21/5)

   = 122984.4

   = 122984

   Difference = 122984 – 80000

   = 42984

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2. Answer

   1) Compounded Annually :

   P=Rs.80000

   R=10% p.a.

   T=1 1/2 years ⟹n=1+ 2
   1

   Amount for 1st year.

   A=P[1+ R/100 ] n

   =Rs.80000[1+ 10/100
   ]=Rs.88000

   SI on Rs. 88000 for next 1/2 year

   =Rs.88000× 10/100 ​
   × 1/2 =Rs.4400

   Therefore, Amount = Rs.88000+Rs.4400 = 92400Rs.

   2) Compounded half yearly :

   P=Rs.80000

   R=10% p.a.=5% per half year

   T=1 1
   /2 years ⟹n=3

   A=Rs.80000[1+ 5/100 ] 3

   A=Rs.92610

   Thus, the difference between the two amounts = Rs.92610−Rs.92400 =Rs.210

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