11. Neha borrowed 24000 from the State Bank of India to buy a scooter. If the rate of interest
pay alter 2 years?
per annum di
be 10% per annum compounded annually, what payment will she have to make after 2
Fars 3 months?
1
Hint 2 years 3 months = 2 years.
4
Answers
Answered by
0
Answer: principal =24000
rate of interest [r] =10% per annum compounded annually
time [n] =2 years 3 months =2+ 3 /12 = 2 +1/4 years
A = P (1 + r/100) ^ n( 1+ [fractional time*rate] /100 )
A = 24000(1 + 10/100) ^ 2( 1+ [1/4*10] /100 )
A = 24000(110/100) ^ 2( 1+ [ {5/2} /100 )
A = 24000*110/100 *110/100 ( 1+ 1/40)
A = 2400*11*11 *41/40
A = 6*11*11 *41
A=29766 ANS
Answered by
1
Answer:
=24000
Rate=10% per annum compounded annually
Time =2 year 3 month=3+
12
2
=2+
4
1
years
A=P(1+
100
r
)
n
(1+[fraction time rate]/100)
=24000(1+
100
10
)
2
(1+[1/4×10]/100)
=24000×(
100
110
)
2
(1+
2
5
×100)
=24000×
100
110
×
100
110
×[1+
40
1
]
=24000×11×11×41/40=6×11×11×41
A=29766
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