Question

a loan was taken on compound interest at the rate of 10 p. c. p. a it was settled after 3 years by paying rupees 26620 how many rupees of loan was taken ​

Answer 1

Answer:

20000

Step-by-step explanation:

just when we view the Q the total amt is 26620 the loan may be of 20000 rupees .

r=10%

let us assume p=20000

for the first year

20000*10/100=2000 is the interest

add 2000 to 20000 =22000 now for the 2nd year we need to calculate 10% of 22000 as it is the compound interest of 1st year

10% of 22000=2200

add to 22000 to calculate C.I of 3rd year

24200

10% of 24200 = 2420

add 2420+24200=26620

the final amt is 26620

for 3 yrs

the C.I =26620-20000=6620