Question

Mr. Khandelwal took a loan of 5000 at the rate of 8% p.a.compounded quarterly. How much will he pay
after one year?​

Answer 1

Answer:

Step-by-step explanation:

Principal(P)=Rs 5000

Rate(R)=8%

Time(T)=1 years

Now,

       Compound Amount(CA)=P[$(1+R/100)^{T}$-1]

                                            =5000[(1+8/100$)^{1}$-1]

                                             =5000[(1+0.08)-1]

                                             =5000[1.08-1]

                                             =5000×0.08

                                               =Rs400

Answer 2

Answer:

The amount that he needs to pay is ₹5412.16.

Step-by-step explanation:

Given Data :

Principal ( P) = ₹5000

Rate of Interest ( r) = 8 % pa = 2 % per quarter

Time ( t) = 1 year = 4 quaters

Formula To Be Used :

Amount = P ( 1 + r/100) ^ t

Calculations :

We have :

$amount \: = 5000 {(1 + \frac{2}{100} )}^{4} = 5000 {(1 + 0.02)}^{4} = 5000 \times 1.082= 5412.16$

Compound Interest = Amount - Principal = ₹5412.16- ₹5000 = ₹412.16

Hence, The amount that he needs to pay is ₹5412.16.

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