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
Answers
Answered by
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
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