Question

Kamala borrowed Rs. 26,400 from a bank to buy a scooter at a rate of 15% per annum compounded yearly. What amount will she pay at the end of 2 years to clear the loan​

Answer 1

p=24000

r = 15% per year =15/100 = 0.15

n=2 years

A =p(1+r)ⁿ = 24000(1+0.15)² = 31740/-