Question

Mohan borrowed Rs. 16000 for 3 years at 5% per annum compound interest. Calculate the amount that Mohan would have to pay at the end of 3 years.

Answer 1

p=16000Rs
r=5
n=3 years
A=P (1+r/100)^n
A=16000 (1+5/100)^3
A= 16000 (105/100)^3
A= 16000×1157625/1000000
A = 16×1157625/1000
A = 18522000/1000
A= 18522Rs
Mohan would have to pay 18522Rs at the end of 3 years.......

Answer 2

Answer:

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