babita borrowed rs 15000 from bank to purchase a tv set.If the bank charges interest quarterly at the rate of 8%per annum,what is the amount she has to pay at end of 9 month to clear her debt
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2
If it is simple interest then rs 18600.
If it is compound interest then rs 18895.68
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10
S.I. = (P×R×T)/100
P= 15000
T=9/12 YEARS
R=8%
S.I.= (15000×8×9)/12×100
= 1080000/1200
= 10800/12
= 900
S.I. =900
AMOUNT= P+S.I.
= 15000+900
AMOUNT = 15900
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