A person takes a loan of 3500 at the rate of 2%per month. find the amount
Answers
Answered by
0
Answer:
Aapne time to Likha hi naahi hai
Answered by
3
Step-by-step explanation:
Given Principle: Rs3500, Rate= 20%.p.a and Time : 2 years
To find : Compound interest
P: Rs3500, R= 20%p.a , T= 2years
Amount = P (1+20/100)2
A = 3500(1+20/100)2
= 3500 (1+1/5)2
=3500(6/5)2
= 3500×6/5×6/5
= 5040
Now.C.I = A-P
= 5040-3500
= rs1540
Hence the compound interest is rs 1540
Similar questions