Question

Mr. Sinha borrows 12,000 for 4 years at compound interest rate of 8% p.a.
How much will be have to repay at the end of the period.​

Answer 1

Answer:

$p = 12000 \\ r = 8\% \\ t = 4yr \\ \\ = 12000 \times \frac{4}{8} \\ = 6000 \\ \\ 6000 \times 8\% \\ = 6000 \times \frac{8}{100} \\ = 480\%$

Answer 2

Step-by-step explanation:

formula for finding compound interest

A=P (1+R/100)^N

Substituting the values

A=12000×(1+8/100)^4

=12000×(108/100)^4

=12000×108/100×108/100×108/100×108/100

=16,325.86752 rupees