2. Kamala borrowed Rs 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 to clear the loan?
Answers
Answered by
5
Answer:
P= Rs. 26400
Rate of Interest 15 %
Time = 2 years and 4 months
In this question, first, we will compute the
compounded interest for 2 years.
A = P(1 + R/000)"
26400(1 + 15/100)2
26400 115/100"115/100
A=Rs. 34914
Now, Simple Interest for 4 months will be
calculated and Principal will be Rs. 34914.
Simple Interest = (P"R"T}/100
(34914*15*4)/(12100)
2094840/1200
Rs. 1745.7
Total Amount = 34914 +1745.7
= Rs. 36659.7
Hence, after 2 years and 4 months, Kamala
will pay Rs. 36659.7 to clear the loan.
Step-by-step explanation:
Answered by
0
Answer:
Kamala
will pay Rs. 36659.7 to clear the loan.
Step-by-step explanation:
Similar questions