Karim took a loan of rupees 25000 from Corporation Bank at 12% per annum compounded annually how much amount we will have to pay at the end of the year
Answers
Answered by
39
General formula to find compound interest:
Simplifying the formula:
The number of year = 1 ⇒ n = 1
It is compounded yearly ⇒ t = 1
Therefore: A = P( 1 + r)
Write the rate in percentage:
12% = 12 ÷ 100 = 0.12
Applying the formula:
A = 25000( 1 + 0.12)
A= Rs 28000
Answer: He will have to pay Rs 28000 at the end of the year.
TooFree:
I have checked = The general formula for "r" is in percentage, So I think it is fine to leave it as r? The general formula is A = P(1 + r/n) ^{nt} ... I have dropped off the "n" here since the n is 1.
Edited.
Thanks @abhi569, for highlighting it :)
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@ Aryan9933 Thank you for the brainliest :)
Answered by
36
Answer : Amount = Rs 28,000
Explanation :-
Given :
Principal = Rs 25000
Rate of interest = 12%
Compounded annually (n) = 1
Finding the Amount :-
Amount = P(1 + r/100)^n
Amount = 25000(1+12/100)^1
Amount = 25000(1+0.12)
Amount = 25000(1.12)
Amount = 28,000
Hence :
Amount he will have to pay at the end of the year is ₹ 28000
Explanation :-
Given :
Principal = Rs 25000
Rate of interest = 12%
Compounded annually (n) = 1
Finding the Amount :-
Amount = P(1 + r/100)^n
Amount = 25000(1+12/100)^1
Amount = 25000(1+0.12)
Amount = 25000(1.12)
Amount = 28,000
Hence :
Amount he will have to pay at the end of the year is ₹ 28000
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