Question

how much will she have to pay after 2 years?
11. Neha borrowed 24000 from the State Bank of India to buy a scooter. If the rate of interest
be 10% per annum compounded annually, what payment will she have to make after 2
years 3 months?
1932
Hint. 2 years 3 months =21
years.
1000​

Answer 1

Answer:

29766

Step-by-step explanation:

principal =24000

rate of interest [r]  =10% per annum compounded annually

time [n]  =2 years 3 months  =2+ 3 /12 = 2 +1/4 years

A = P (1 + r/100) ^ n( 1+ [fractional time*rate] /100 )

A = 24000(1 + 10/100) ^ 2( 1+ [1/4*10] /100 )

A = 24000(110/100) ^ 2( 1+ [ {5/2} /100 )

A = 24000*110/100 *110/100 ( 1+ 1/40)

A = 2400*11*11 *41/40

A = 6*11*11 *41

A=29766  ANS