Question

Kusumtai borrowed Rs. 55000 at 12 p.c.pa. for a year. What amount will she have to return to

the bank at the end of the year ?​

Answer 1

Interest=55000*12*1/100
Interest= 6600Rs
Amount=Principal+Interest
=55000+6600
=61600Rs

Answer 2

Answer:

• She will have to return Rs. 61,600 to the bank at the end of the year.

Step-by-step explanation:

Given that:

• Kusumtai borrowed Rs. 55000 at 12 p.c.p.a. for a year.

To Find:

• What amount will she have to return to the bank at the end of the year?

Formula used:

In compound interest.

• A = P(1 + R/100)ᵀ

Where,

• A = Amount
• P = Principal = Rs. 55000
• R = Rate = 12%
• T = Time = 1 year

Finding the amount:

⟶ A = 55000(1 + 12/100)¹

⟶ A = 55000(1 + 0.12)

⟶ A = 55000(1.12)

⟶ A = 55000 × 1.12

⟶ A = 61600

∴ Amount = Rs 61600