Question

3. Ramana borrowed RS-31,000/- from a bank to buy
a Scooter at a rate of interest 14% per annum
coumpounded yearly' what amount will she pay
at the end of 2 years and 6 months to clear
loan?​ step by step answer I should want

Answer 1

Answer:

Rs-41,850/-

Step-by-step explanation:

loan = RS_31,000/-

Rate of interest per annum=14%

Amount of interest per annum= RS_31,000/-×14÷100=RS_4340/-

Amount of interest after 2 and half year= 4340×2+2170= Rs-10,850/-

amount paid to clear loan= amount of loan + total amount of interest

=31,000+10,850

=Rs-41,850/-