I took a loan of 30,000 from a finance company . If the rate of interest is 7 % per annum compound annually, calculate the amount I have to pay after two years.
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AMOUNT =P(1+R/100)(1+R/100) ((P=principal,r=rate.2times because 2yrs))
3000(1+2/100)(1+2/100)
3000(51/50×51/50)
30×51/5×51/5 (( cancelling 2zeros))
6×51×51/50
=312.12 Rupees
HOPE THIS HELPS U.. IF IT DOES THEN MARK ME AS BRAINLIEST.. U CAN ALSO FOLLOW ME
3000(1+2/100)(1+2/100)
3000(51/50×51/50)
30×51/5×51/5 (( cancelling 2zeros))
6×51×51/50
=312.12 Rupees
HOPE THIS HELPS U.. IF IT DOES THEN MARK ME AS BRAINLIEST.. U CAN ALSO FOLLOW ME
Ankitsinghnawaab:
110000 loan amount interest rate 8% for 16 month ho what is my monthly payments and how ,much I have to pay
(110000*8*1)/4*100=112,200 you to loan with interest.
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