Question

karim took loan of rs 25000 from corporation bank at rs 12 percent per annum, compounded annually. how much amount, he will have to pay at the end of 3years​

Answer 1

Answer:

Step-by-step explanation:

General formula to find compound interest:

A=P(1+r/n)$^{nt}$

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.

Answer 2

Answer:

Rs. 35123.20

Step-by-step explanation:

Principal = ₹25000

rate= 12%

time= 3years

Amount = P× ( 1+ r/100)^n

Amount = 25000 × ( 1+ 12/100)^3

Amount = 25000 × 28/25 × 28/25× 28/25

Amount = 175616/5

Amount = 35123.20