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# Kamal Borrowed Rs 57600 from Lic Against Her Policy at 12 1 2 per Annum to Build a House. Find the Amount that She Pays to the Lic After 1 1 2 Years If the Interest is Calculated Half-yearly. - Mathematics

Sum

Kamal borrowed Rs 57600 from LIC against her policy at $12\frac{1}{2} \%$ per annum to build a house. Find the amount that she pays to the LIC after $1\frac{1}{2}$ years if the interest is calculated half-yearly.

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#### Solution

Given:
P = Rs 57, 600
R = 12 . 5 % p . a .
n = 1 . 5 years\]
When the interest is compounded half - yearly, we have:
$A = P \left( 1 + \frac{R}{200} \right)^{2n}$
= Rs $57, 600 \left( 1 + \frac{12 . 5}{200} \right)^3$
= Rs$57, 600 \left( 1 . 0625 \right)^3$
= Rs 69, 089 . 06
Thus, the required amount is Rs 69, 089 . 06 .

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#### APPEARS IN

RD Sharma Class 8 Maths
Chapter 14 Compound Interest
Exercise 14.2 | Q 9 | Page 15
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