Question

Mr. Dubey borrows rs100000 from a bank at 10%p.a compound interest. what amount will he have to pay to the bank​

Answer 1

Complete Question :

• Mr. Dubey borrows Rs. 100000 from a bank at 10%p.a compound interest. what amount will he have to pay to the bank after 3 years.

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AnswEr :

• The amount he will pay to the bank after 3 years = Rs. 133100.

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Explanation :

We are given with the principal, rate and time, that is,

Principal, P = Rs. 100000.

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Rate of interest, R = 10% per annum.

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Time, n = 3 years.

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We have to find out the amount he will pay to the bank after 3 years.

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As we are given with principal, rate and time we know that, if we are given with the principal, rate and time, we have the required formula, that is,

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$\sf{:\implies A = P \bigg\lgroup 1 + \dfrac{R}{100} \bigg\rgroup ^n}$

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Substituting the given values in the formula :

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$\sf{:\implies A = 100000 \bigg\lgroup 1 + \dfrac{1 \cancel0}{10 \cancel0} \bigg\rgroup ^3}$

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$\sf{:\implies A = 100000 \bigg\lgroup 1 + \dfrac{1}{10} \bigg\rgroup ^3}$

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$\sf{:\implies A = 100000 \bigg\lgroup \dfrac{10 + 1}{10} \bigg\rgroup ^3}$

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$\sf{:\implies A = 100000 \bigg\lgroup \dfrac{11}{10} \bigg\rgroup ^3}$

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$\sf{:\implies A = 100000 \bigg\lgroup \dfrac{ {11}^{3} }{ {10}^{3} } \bigg\rgroup }$

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$\sf{:\implies A = 100000 \bigg\lgroup \dfrac{1331}{ {10}^{3} } \bigg\rgroup }$

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$\sf{:\implies A = 100000 \bigg\lgroup \dfrac{1331}{1000} \bigg\rgroup }$

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$\sf{:\implies A = 100 \cancel{000 } \times \dfrac{1331}{1 \cancel{000}}}$

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$\sf{:\implies A = 100 \times 1331}$

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$\sf{:\implies \boxed{ \pink{ \frak{A = 133100}}}}$

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Hence, the amount he will pay to the bank after 3 years = Rs. 133100.