Ashima took a loan of Rs 1,00,000 at 12% p.a. compounded half-yearly. She paid Rs.1,12,360. If (1.06)2 is equal to 1.1236, then the period for which she took the loan is:
A. 2 years
B. 1 year
C. 6 months
D. 1(1/2) years
Answer:B
Ashima took a loan of Rs 1,00,000 at 12% p.a. compounded half-yearly. She paid Rs.1,12,360. If (1.06)2 is equal to 1.1236, then the period for which she took the loan is:
A. 2 years B. 1 year C. 6 months D. 1(1/2) years