Question

Denny took a loan of ₹ 25600 to purchase a LCD find the amount and C.I. he has to pay after 9 months if the rate of interest is 10 % P.A. reckoned quarterly​

Answer 1

Answer:

Rs1210

Step-by-step explanation:

Rs 1210

The loan taken by Rohit =Rs20000.

Original rate =10%. Time =3yrs.

∴ The original amount should have been paid

=Principal×(1+rate)

time

=20000Rs(1+

100

10

)

3

=Rs26620..

But he paid an interest @ 10% for 2yrs.

∴The amount after 2yrs.

=20000Rs(1+

100

10

)

2

=Rs24200..

Now he pays 15% interest for 1yr.

∴ The amount after 1yr.

=24200×Rs(1+

100

15

)

=Rs27830..

So, the extra amount Rohit has to pay

=Rs(27830−26620)=Rs1210.