Question

kamala borrowed ₹ 36 400 from a bank to buy a scooter at a rate of 15% p.a compouded yearly what amount will she pay at the end of 2 years and 4 months to clear the loan​

Answer 1

Answer:

Amount = ₹ 50545.95

Step-by-step explanation:

P = ₹ 36 400

Rate of Interest = 15%

Time = 2 years 4 months = 2 1/3 years

First compound interest for 2 years

Time = 2 years

A = P ( 1 + R/100 )^n

   = 36400 ( 1 + 15/100)^2

   = 36400 ( 115/100 )^2

   = 36400 * 13225/10000

    = 4813900/100 = 48139

Amount of 2 years = ₹ 48139

Compound Interest = Amount - Principal = 48139 - 36400 =  ₹ 11739

Simple Interest for 1/3 years

Principal = Amount of 2 years = ₹ 48139

Time = 1/3 years

Interest = PRT/100 = 48139*15*1/300 =  ₹ 2406.95

Simple Interest for 1/3 years =  ₹ 2406.95

Total Interest for 2 1/3 years = Compound Interest for 2 years + Simple Interest for 1/3 years = ₹ 11739 + ₹ 2406.95 = ₹ 14145.95

Amount = Principal + Interest = 36400 + 14145.95 = ₹ 50545.95