3. Sujata borrowed 15,000 from a bank to purchase a TV set. If the bank charges interest quarterly at
the rate of 8% per annum, what is the amount she has to pay at the end of 9 months to clear her debt?
Answers
Answered by
14
Answer:
THE AMOUNT IS ₹15,918.12
Step-by-step explanation:
PRINCIPAL = ₹15,000
RATE = 8%
TIME = 9 MONTHS
= 9/12
= 3/4 YEAR
SO,
WE KNOW,
A=P(1+R/400)^4N
= 15000(1+8/400)⁴*³/⁴
= 15000(408/400)³
= (15000*408*408*408)/(400*400*400)
= (15*408*408*408)/4*40*400
= 1018759680/64000
= ₹15,918.12
I HOPE YOU UNDERSTOOD THE QUESTION
Similar questions