Question

a bank gives a loan of amount inr 3 lakh to a man at the rate of 8% .after every three years rate becomes double on same amount of money. so total anount of money after 8 years​

Answer 1

Answer:

The Total amount after 8 years will be Rs. 7,08,000/-

Step-by-step explanation:

Given,

P = Rs. 3,00,000

According to questions, there are 3 cases:

Case 1:

T = 3 yrs

R = 8 %

∴ S.I = $\frac{P * T *R }{100}$

        $= \frac{3,00,000*3*8}{100}$

       = Rs. 72,000

Case 2:

After 3 years Rate will be double

T = 3

R = 16 %

∴ S.I =  $\frac{P * T *R }{100}$

       $= \frac{3,00,000*3*16}{100}$

       =  Rs. 1,44,000

Case 3:

again after 3 year rate will be double

T = 2

R = 32 %

∴ S.I =  $\frac{P * T *R }{100}$

       = $\frac{3,00,000*2*32}{100}$

       = Rs. 1,92,000

Therefore, Total amount after 8 years is;

= Rs. 3,00,000 + Rs. 72,000 + Rs. 1,44,000 + Rs. 1,92,000

= Rs. 7,08,000/-