Question

Given: Principal (P) = ₹ 12,500, Time (T) = 3 years, Rate of interest (R) = 12% p.a.​

Answer 1

Step-by-step explanation:

Here, P = ₹ 12500; R = 12 % ; N = 3 years

A=P(1+R100)N   =12500(1+12100)3   =12500(1+325)3   =12500(2825)3   =17561.60 RupeesA=P1+R100N   =125001+121003   =125001+3253   =1250028253   =17561.60 Rupees

Hence, he should pay an amount of ₹ 17561.60 to clear his loan.