Question

Neha Borrowed 24000 from State Bank of India to buy a scooter if the rate of interest be 10% per annum compounded annually what payment will she have to make after 2 years 3 months

Answer 1

principal =24000

rate of interest [r]  =10% per annum compounded annually

time [n]  =2 years 3 months  =2+ 3 /12 = 2 +1/4 years

A = P (1 + r/100) ^ n( 1+ [fractional time*rate] /100 )

A = 24000(1 + 10/100) ^ 2( 1+ [1/4*10] /100 )

A = 24000(110/100) ^ 2( 1+ [ {5/2} /100 )

A = 24000*110/100 *110/100 ( 1+ 1/40)

A = 2400*11*11 *41/40

A = 6*11*11 *41

A=29766  ANS

Answer 2

Answer:

p = 24000

r = 10 percent

t = 2 years and 3 months

= 2 whole 3/12 = 2 whole 1/4 years

a = p( 1 / 1+ r/100)2 ( 1 / 1 + month * r / 100

a = 24000 ( 1 / 1 + 10 / 100 )2 (1 / 1 + 1/4 *10 / 100)

a = 24000 ( 100+10/100)2 (40+1/40)

a= 24000(110/100)2 (41/40)

a= 24000 * 110 / 100 * 110 / 100 * 41/ 40

a = 29766

Step-by-step explanation:

hope its help you