Question

Kamla borrowed rs 26400 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 and 4 months to clear the loan?​

Answer 1

Answer:

The answer is 27720

Step-by-step explanation:

Solution

Answer 2

Given:-

• Kamla borrowed rs 26400 from a bank to buy a scooter at a rate of 15% per annum

To Find:-

• what amount will she pay at the end of 2 years and 4 months to clear the loan?

Solution :-

• Principal(p) = ₹26,400

• Time (n) = 2 years and 4 months = 2 1/3 years

• Rate of Interest = 15% Per annum

Amount of 2 years = P[(1+15/100)n]

• => 26,400(1+15/100)2

• 26,400(23/20)2

• =>. ₹34914

For 1/3 years

• T = 1/3 years

• rate = 15%

• P = 34914

• Interest = 34914*1*15/3*100

• So, the interest = 1745.70

$\bold{ \red{★Total = 34914 + 1745.70}{} }{} \\ \\ \bold{ \red{ = > ₹36659.70}{} }{}$

So, Kamala Needs To pay ₹36659.7 to clear the loan