A person borrowed 7500 at 16% per annum compound interest. What is the amount of compound
interest he has to pay at the end of 2 years to clear the loan?
Answers
Answered by
2
Answer=
10092
Step-by-step explanation:
P=7500
R=16 percent
n/T=2 years
Amount =P(1+R/100) rest to power n
=7500(1+16/100)rest to power 2
=7500*116/100*116*100
=Rs. 10092
Answered by
2
Answer=
10092
Step-by-step explanation:
P=7500
R=16 percent
n/T=2 years
Amount =P(1+R/100) rest to power n
=7500(1+16/100)rest to power 2
=7500*116/100*116*100
=Rs. 10092
Similar questions