Monika borrowed 4096from shalini for three years at 25/4%p.a. Find the amount and compound interest paid by her to shalini after three years if the interest is compounded annually
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Answer:
First write the formula of compound interest and put the values given and then after getting its answer do the sum and get your answer... You can have a help from your notebook examples
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Answer:
cl=4096 (I +25/4oo) 3-4096
= 4096x (425 / 400 )3-4096
= 4913-4096 = Rs 817
Amount Paid=Rs4916
Cl=Rs 817
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