Question

if a loan is equal to rupees 175000 rate of interest is equal to 4% time is equal to 2 years then amount to be repaid is equal to​

Answer 1

❏ Question:-

If a loan is equal to rupees 175000 rate of interest is equal to 4% time is equal to 2 years then amount to be repaid is equal to=?

❏ Solution:-

•Given➝ •principal amount(p)=1,75,000 Rs.

•Rate of loan interest (r)= 4%.

•Time(t)= 2 years.

•n=1 [as, interest Applied annually]

•To Find➝

•Total amount after 2 years with interest=?

•Ans➝

Now, in bank loan is issued on compound interest policy.

$\therefore$ Applying the formula of compound interest,

❚ Total Amount After 2 years ❚

$\sf\longrightarrow\boxed{ P_c=P(1+\frac{r}{100}){}^{n\times t}}$

$\sf\longrightarrow P_c=175000(1+\frac{4}{100}){}^{1\times 2}$

$\sf\longrightarrow P_c=175000\times(\frac{104}{100}){}^{ 2}$

$\sf\longrightarrow P_c=175\cancel{000}\times\frac{104}{1\cancel{00}}\times\frac{104}{10\cancel0}$

$\sf\longrightarrow P_c=\frac{\cancel{175}\times104\times104}{\cancel{10}}$

$\sf\longrightarrow P_c=104\times104\times17.5$

$\sf\longrightarrow\boxed{\large{\red{P_c=1,89,280\:\:Rs}} }$

$\therefore$ After 2 years the amount to be repaid is equal to= 1,89,280 Rs

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✰INTEREST✰

❏ Used ForMuLaS:-

➔ For Compound interest

$\sf\longrightarrow\boxed{ P_c=P(1+\frac{r}{100}){}^{n\times t}}$

$\sf\longrightarrow\boxed{I_c=P[(1+\frac{r}{100}){}^{n\times t}-1]}$

➔ For Simple interest

$\sf\longrightarrow\boxed{I_s=\frac{Prt}{100}}$

$\sf\longrightarrow\boxed{P_s=(P+\frac{Prt}{100})}$

Where ➔ • $P_c$= Total amount after

compound interest .

• $P_s$= Total amount after

Simple interest .

• P= principal amount.

• t= time.

• r= rate of interest.

• n= No. of interest cycle per year .

Ex:-

➝n=1 (when compounded annually)

➝n=2 (when compounded half yearly)

➝n=4 (when compounded quarterly)

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