Question

Bhupendra took loan of rupees 6300 at rate of 7% for 2 years and 8 months then tell what amount will be paid by him.

Answer 1

6300*7*32/100*12=1176
6300+1176=7476

Answer 2

The amount will be paid by him is Rs.7545.66

Step-by-step explanation:

Principal = Rs.6300

Rate of interest = 7% = 0.07

Time = 2 years and 8 months $=2 +\frac{8}{12}=\frac{8}{3} years$

$A=P(1+r)^t$

Where A is amount

P is Principal

r = rate of interest in decimals

t = time in years

$A=6300(1+0.07)^{\frac{8}{3}}$

$A=7545.66$

Hence The amount will be paid by him is Rs.7545.66

#Learn more:

Find the amount to be paid on a loan of rupees 6600 @ 8% per annum at the end of 5 years

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