Question

boro rs 30000 for the bank 50% compounded annually board amount will be at the end of 3 years to clear the loan

​

Answer 1

Step-by-step explanation:

Correct option is A)

Principal (P) = Rs26,400

Rate (R) = 15% per annum

Number of years (n) = 2124

The amount for 2 years and 4 months can be calculated by first calculating the amount for 2 years using the compound interest formula, and then calculating the simple interest for 4 months on the amount obtained at the end of 2 years.

For calculating amount of first 2 years,

Amount = Principal(1+100R)Time

Interest = Amount - Principal

Amount = 26400(1+10015)2

Amount=34914

Now, the interest for next 31 years will be calculated using Simple Interest

S.I. = 100(P×R×T)

S.I. = 10034914×15×31

S.I. = 1745.70

Therefore, total amount to be paid after 2 years and 4 months = 34,914+1,745.70=Rs 36,659.70

Nearest whole number to 36659.70 is 36660.