Question

David took a loan of 40,000 from a bank. If the rate of interest is 20% per annum, find the amounts
he will have to pay to the bank after 1 year, if the interest i
compounded annually​

Answer 1

Principal = ₹ 40,000

Rate = 20%

Time = 1 Year Amount = Principal[1+R/100]^time

=40,000[1+20/100]^1

=40,000[5+1/5]^1

=40,000×6/5

=8,000×6

=48,000 ANS.....