Question

8. How much will Atul pay if he borrowed
50,000 at 2% pa interest compounded
annually, for 1 year and 4 months?​

Answer 1

₹51340 is answer

Step-by-step explanation:

given:

time=1 year 4 months in 1 year 12 months are there so 1 tear =12 months and total time is 12+4monts=16 months

16 months =16/12years=4/3years

principle =₹50000

rate of intrest=2percent per anum

solution:

first we will find si for 1 year

50000×2×1/100

=500×2

=₹1000

for calculating si for 1/3 years we will take p=5000+1000

=₹51000 and time 1/3 years

51000×2×1/3×100

=510×2×1/3

=1020/3

=340

si for 1 year=₹1000

si for 1/3 years=₹340

CI=1000+340=1340

amount=p+ci=50000+1340=₹51340(ans)

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