Question

Meenakshi borrowed a sum of rupees 16000 from Sarita for 2 years. If the rate of interest is 8%

per annum compounded . Find the amount Meenakshi has to pay back. explain​

Answer 1

Answer:

18560/-

Step-by-step explanation:

p=16000

T=2 years

R=8%

I=PTR÷100

=16000×2×8÷100

=2560

Amount =P+I

=16000+2560

=18560