Question

Anita borrowed Rs 50000 for 1 year 5 months at 12 percent per annum compounded annually. how much money will she have to pay back to the settle the account? Answer is Rs 58800​

Answer 1

Answer:

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Step-by-step explanation:

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Answer 2

Answer:

Answer is ₹ 58800

Step-by-step explanation:

First we will find amount for 1 year

principal=Rs 50000

rate=12%

n/time=1yr

a=p[1+r/100] raised to n

=50000[1+12/100] raised to 1

=50000[1+3/25]

=50000 into 28/25

=Rs56000 is amount for 1 yr

for remaining 5 months=5/12

56000 into 5 into 12 divided by 100 into 12

=Rs2800

Therefore Anita has to pay 56000+2800

=58800 Rs

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