Q9 of 89 Page 14

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

Given,


Principal = Rs.57600


Rate = 12-% per annum =


Time = 1 years =


Hence,


Compound interest =


= 57600


So,


Amount that Kamal pays to LIC after 1- years = Rs.(57600 + 11489.06) = Rs.69089.06


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