Question

Mukesh borrowed 75000 from a bank if the rate of interest is 12% per annum find the amount he would be paying after 1 and half years if
the interest is compounded annually

Answer 1

Hey ✌

If Mukesh borrowed 75,000 from a bank and the rate of interest is 12% per annum,

Then , 12% of 75,000
=> ₹(12 × 75,000 / 100)
=> ₹(12 × 750)
=> ₹9,000

Total interest per annum = ₹(75,000+9,000)
= ₹ 84,000

In one and half years = ₹ (84,000 + 42,000)
= ₹ 1,26,000

Compound interest = 12% of 84000
= ₹ 10080

Compounding annually = ₹ (10080 + 84000)
= ₹ 94080

hope it helps u ☝

Answer 2

Answer:

If Mukesh borrowed 75,000 from a bank and the rate of interest is 12% per annum,

Then , 12% of 75,000

=> ₹(12 × 75,000 / 100)

=> ₹(12 × 750)

=> ₹9,000

Total interest per annum = ₹(75,000+9,000)

= ₹ 84,000

In one and half years = ₹ (84,000 + 42,000)

= ₹ 1,26,000

Compound interest = 12% of 84000

= ₹ 10080

Compounding annually = ₹ (10080 + 84000)

= ₹ 94080

Step-by-step explanation: