Question

How much amount will Shalini pay to bank if she took a loan of ₹ 2,00,000 for the time period of 1-year compounded yearly at the rate of 10%?​

Answer 1

Answer:

₹2,20,000

Step-by-step explanation:

Given,

P = ₹ 2,00,000

T = 1 yr

r = 10%

C.I =?
We know,

$C.I = P[(1+\frac{r}{100} )^{T} -1]$

     $= 2,00,000[(1+\frac{10}{100} )^{1} -1]$

     $= 2,00,000 * 0.1$

     $= 20000$

Finally,

C.A = C.I + P

      = 20,000 + 2,00,000

      = ₹2,20,000

∴Shalini will pay ₹2,20,000 to bank