hi!
pls help!
Anand obtained a loan of Rs. 125000 from the Allahabad Bank for buying computers. The rate of interest is 10% per annum.
i) The amount he would be paying after 2 years if the interest is compounded annually, is?
ii) The amount he would be paying after 2 years if the interest is compounded half yearly, is?
iii) The difference in the amounts he would pay is?
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Answer:
ANSWER
Principal =125000
Rate of interest =8% p.a
Time =3 years
The amount including the compound,
A=P(1+
100
R
)
n
=125000(1+
100
8
)
3
125000×(1.08)
3
=157464
∴ Anand have to pay Rs. 157464 after 3 years to clean the dept
I hope it's help you
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