a man borrowed rupees 30000 from a bank to buy a scooter at the rate of 10% per annum compounded annually what amount will he pay at the end of 2 years to clear his loan
Answers
Answered by
3
He will have to pay ₹36300
srry, but i can't bcuz u have only given formula u have not solved it that's why i can't srry
Its ok
hmm thanq
Answered by
11
P = 30000 Rs
R = 10%
N = 2 yrs
Amount = P ( 1 + R /100)^N
= 30000(1 + 10/100)^2
= 30000(11/10)^2
= 30000 * 11/10 * 11/10
= 300 * 11 * 11
= 300 * 121
= 36300 Rs
Hence the man will be pay 36300 Rs.
R = 10%
N = 2 yrs
Amount = P ( 1 + R /100)^N
= 30000(1 + 10/100)^2
= 30000(11/10)^2
= 30000 * 11/10 * 11/10
= 300 * 11 * 11
= 300 * 121
= 36300 Rs
Hence the man will be pay 36300 Rs.
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The formula is
Amount=P(1+R/100)^T