Question

Kamla borrowed 26400rs from a bank to buy a scooter at a rate of 15% p.a compounded yearly. What amount will she pay at the end of 2 years and 4 months to clear the loan?

Answer 1

Given: 

Principal (P) = ₹ 26,400,

Time (n)= 2 years 4 months, Rate of interest (R) = 15% p.a.

Amount for 2 years (A) = P(1+R/100)^n

=26400(1+15/100)²

= 26400(1+3/20)²

=  26400(23/20)²

= 26400(23/20)×(23/20

=  (264×23×23)/4= 66×23×23

= ₹34,914

Interest for 4 months= 4/12=1/3

Interest for 1/3 years at the rate

of 15% = (34914×15×1)/3×100

= (34914×5)/100

= ₹ 174570/100

= ₹ 1745.70

Total amount = ₹ 34,914 + ₹

1,745.70

= ₹ 36,659.70

The amount  she will pay at the end of 2 years and 4 months to clear the loan=  ₹ 36,659.70

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Hope this will help you.....

please brainliest