Question

2, 3
Kamala borrowed 26,400 from a Bank to buy a scooter at a rate of 15% p.a.
compounded yearly. What amount will she pay at the end of 2 years and 4 months to
clear the loan?
(Hint: Find A for 2 years with interest is compounded yearly and then find SI on the
4
2nd
year amount for
12​

Answer 1

Answer:

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Answer 2

A=p(1+r/100)t

a/c

26,400(1+15/100)2

26,400(1+3/20)2

26,400×23/20×23/20

66×23×23

=34,914

SI=p×r×t/100

34,914×15×4/100+12

20,960.4

total amount

=34,914+20,960.4

55,874.4(ans)