Question

Madhu borrowed a sum of 24000 for 2 years at the rate of 10% per annum interest compounded annually.find how much money will she have to pay to clear her debt?



ANSWER:29040

fast it's urgent

Answer 1

p=24000
T=2yrs
R=10%
A=p(1+RT/100)
=24000(1+20/100)
=24000×6/5
=4800×6
=28800

Answer 2

Hey mate

$a = \\p = 24000 \\ n = 2yrs \\ r = 10\%p.a \\ a = p(1 + \frac{r}{100}) {}^{n} \\ a = 24000(1 + \frac{10}{100}) {}^{2} \\ a = 24000 \times 1.1 \times 1.1 \\ = 29040$
Hope it helps uh