Question

A loan of ₹15000 was taken on compound interest. If the rate of compound interest is 12 p.c.p.a. find the amount to settle the loan after 3 years.



I need step by step explaintion and it should be done on paper and then click the photo of that because I want the cutting also like 4/40 we will cut 4 so it will be 1 and 40 will be 10 like that I want please give me the correct answer I begging you all​

Answer 1

Corrected question:

• A loan of ₹15000 was taken on compound interest. If the rate of compound interest is 12% pa. Find the amount to settle the loan after 3 years.

Information provided with us:

• A loan of ₹15000 was taken on compound interest
• Rate of interest is 12% p.a.
• Time is of 3 years

Using Formula,

• A = P × (1 + R/100)^t

Where,

• A is amount
• P is principal
• R is rate of interest
• t is time taken

Performing calculations:

We have,

• P is Rs.15000
• R is 12%
• t is 3

To Find:

• Amount

Basic understanding:

• The money borrowed is called the Principal, the extra money paid for using lender's money is called the interest and the total money, paid to the lender at the end of the specified period is called the amount.

Putting the values in the formula of amount,

➺ A = 15000 × (1 + 12/100)³

➺ A = 15000 × (1×100 + 12 / 100)³

➺ A = 15000 × (100 + 12 / 100)³

➺ A = 15000 × (112 / 100)³

➺ A = 15000 × (56 / 50)³

➺ A = 15000 × (28 / 25)³

➺ A = 15000 × (28/25) × (28/25) × (28/25)

➺ A = 3000 × (28/5) × (28/25) × (28/25)

➺ A = 600 × 28 × (28/25) × (28/25)

➺ A = 120 × 28 × (28/5) × (28/25)

➺ A = 24 × 28 × 28 × 28 / 25

➺ A = 672 × 784 / 25

➺ A = 526848 / 25

➺ A = 21073.92

Henceforth, amount to settle the loan after 3 years is of ₹21073.92!

Answer 2

Question:-

A loan of ₹15000 was taken on compound interest. If the rate of compound interest is 12 p.c.p.a. Find the amount to settle the loan after 3 years.

Given:-

1. Principal of Amount (P) = ₹15,000.

2. Rate of Interest (R) = 12 p.c.p.a.

3. No.of years (N) = 3years.

To Find:-

Amount to settle the loan after 3years = ?

Solution:-

$♤ \: \sf \large \red{A = } \sf \large \blue{P(1 + \frac{R}{100} ) {}^{N} }$

$\sf = 15000(1 + \frac{12}{100} ) {}^{3}$

$\sf = 15 000(1 + \frac{3}{25} ) {}^{3}$

$\sf = 15000( \frac{28}{25} ) {}^{3}$

$\sf = 15000 \times \frac{28}{25} \times \frac{28}{25} \times \frac{28}{25}$

$\sf = \frac{24 \times 28 \times 28 {}^{2} }{25}$

$\sf = \frac{24 \times 28 \times 784}{25}$

$\sf = \frac{24 \times 21952}{25}$

$\sf = \large \frac { { \cancel{526848}}}{{ \cancel{25} }}$

$\sf = 21073.92$

Answer:-

∴ Amount to settle the loan after 3years

= ₹21073.92.