Anita borrowed rupees 50000 for 1 year 5 months at 12% per annum compounded annually how much money will she have to pack to settle the account
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Answer:
ANSWER IS RS.117600
AMOUNT TO BE REPAID IS 11760
Step-by-step explanation:
AMOUNT = ( P(1 + R/100) ^ WHOLE NO. IN YEAR PART ) * ( 1 + ( FRACTION PART IN YEARS * R ) /100 )
50000(1 + 12/100 ) ^1 * 1 + 5/12 * 12 /100
50000 * 28/25 * 29/20
= 200 * 28 *21
= 11760
AMOUNT TO BE REPAID BY ANITA IS RS. 11760
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