Question

a sum of ₹20000 is borrowed by meena for 2 years for 8% compounded annunly find amount she has to pay at the end of 2 years

Answer is 23328

Answer 1

Principal (P) = ₹ 20000

Rate of interest (R) = 8 %

Time (n) = 2 years

We know that,

$Amount(A) = P {(1 + \frac{R}{100} )}^{n} \\ \\ A = 20000 {(1 + \frac{8}{100} )}^{2} \\ \\ A = 20000 {(1 + \frac{2}{25} )}^{2} \\ \\ A = 20000 {( \frac{25 + 2}{25} )}^{2} \\ \\ A = 20000 {( \frac{27}{25} )}^{2} \\ \\ A = 20000 \times \frac{729}{625} \\ \\ A = 23328$

Hence,

Meena will pay ₹ 23328 at the end of two years.

Answer 2

Here is your solution

Given :-


Principal (P) = ₹ 20000
Rate of interest (R) = 8 % p.a
Time (n) = 2 years 

We know that, 

Amount(A) = P (1 + R/100)^2

A = 20000 {(1 + 8/100)^2

A = 20000 {(1 + 2/25)^2

A=23328​ 

Hence, 

Meena will pay ₹ 23328 at the end of two years.