Anita took a loan of rs 250000 from Muthoot finance if the company as interest at 8% per annum compounded quarterly what amount will discharge his dent ater 9 months
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1
Answer:
Rs. 157464
Step-by-step explanation:
Principal =Rs.125000
Rate of interest =8% p.a
Time =3 years
The amount,
A=P(1+
100
R
)
n
=125000(1+
100
8
)
3
=125000×(1.08)
3
=157464
∴ Anand have to pay Rs. 157464 after 3 years to clean the debt.
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