kamala borrowed rupee 26400 from a bank to buy a scooter at rate of 15% per annum compounded yearly. what amount will she pay at the end of 2 years and 4 months to clear to loan
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26400×15÷100=3960( this is the interest payable for 1 year. For 2.4 years, interest payable is 9240)
therefore total amount payable is Rs. 35640.( 26400+9240)
26400×15÷100=3960( this is the interest payable for 1 year. For 2.4 years, interest payable is 9240)
therefore total amount payable is Rs. 35640.( 26400+9240)
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