Question

Neha borrowed $24000 from the 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

Answer:

$5763.50

Step-by-step explanation:

Step 1:P=$24000

R=10%

n=T=2

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

=24000(1+10/100)^2

=24000(11/10)^2

=24000×121/100

=240×121

A=$29040

Step2:

P=$29040

R=10%

T=3/12

=1/4

SI=PRT/100

=29040×10×1/4×1/100

=$723.50

Step3:

=$(29040-24000)+$723.50

=$5040+$723.50

=$5763.50

Answer 2

Answer:

2 years 3 months​ =  $29766

Step-by-step explanation:

Neha borrowed $24000

1st year $24000 +10% = $24000 + $2400

1st year  =$26400

2nd year $26400 +10% = $26400 + $2640

2nd year = $29040

2 years 3 months​ $29040 +10% /4 = $29040+ $2904/4

2 years 3 months​ =  $29040+ $726

2 years 3 months​ =  $29766

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