Question

Ambika took a loan of rupees 40,000 for her business. she had to pay back rupees 48,288 in one year in equal 12 installments . how much did she pay back every month
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Answer 1

Step-by-step explanation:

Since, the amount formula in compound interest is,

A=P(1+\frac{r}{n})^{nt}A=P(1+nr)nt

Where,

P = principal amount,

r = rate of interest annually,

n = number of periods in a year,

t = number of years,

If P = 40000, r = 5% = 0.05,

Then, the difference in amount she would paying after 1½ years if the interest is compounded annually and compounded half yearly.

d=40000(1+\frac{0.05}{2})^3-40000(1+\frac{0.05}{1})^\frac{3}{2}d=40000(1+20.05)3−40000(1+10.05)23

=40000((1.025)^3-(1.05)^\frac{3}{2})=40000((1.025)3−(1.05)23)

\approx 38.43\text{ rupees}≈38.43 rupees

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Answer 2

Step-by-step explanation:

38.43 rupees is the ans approximately