Question

how much interest would Aisha pay on a loan of 9000 at the rate of 11% for year if compounded annually​

Answer 1

9000(11%)÷100=990 ans

Answer 2

Answer:

Interest that Aisha has to pay is ₹990.

Step-by-step explanation:

Given Data :

Present Value (P) = ₹9000

Rate of interest (r) = 11 %

Time ( n) = 1 year

Data to be Calculated :

Interest that Aisha has to pay.

Formula to be Used :

$A \: =P {(1 + \frac{r}{100}) }^{n}$

where P is the present value, r is the rate of interest and A is the Amount to be paid.

$interest(I) \: = A \: - P$

Calculations :

$A \: = P {(1 + \frac{r}{100} )}^{n} = 9000 {(1 + \frac{11}{100} )}^{1} \\ A = 9000 \times 1.11 = 9990$

Hence, the amount that Aisha has to pay is ₹9990

Now the interest that Aisha has be pay =

$I = A - P = 9990 - 9000 = 990$

Hence, the interest that Aisha has be pay is ₹990

Concept :

• Compound interest is when you receive interest on both your interest income and your savings.
• Compound interest, also known as interest on principal and interest, is the practise of adding interest to the principal amount of a loan or deposit.

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