Question

Mukesh borrowed rs75000 from a bank. If the rate of interest is 12% per annum,find the amount he would be paying after 3/2 years if the interest is comppunded annually

Answer 1

Answer: 21600000 rs after 2 years

32400000 rs after 3 years

Step-by-step explanation:

I am being simple to what I know

1 annum = 1 month =12%

3 years = 36 annums = 12x36 =432%

2 years = 24 annums = 12x24 =288%

Now if he borrowed rs 75000 he would have to return

75000 x 432 = 32400000 rs after 3 years

75000 x 288 = 21600000 rs after 2 years