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 ?
HINT. 2 years 3 months = 2^1/4
Means 9/4
Answers
Answered by
2
P=24000
Rate=10% per annum compounded annually
Time =2 year 3 month=3+
12
2
=2+
4
1
years
A=P(1+
100
r
)
n
(1+[fraction time rate]/100)
=24000(1+
100
10
)
2
(1+[1/4×10]/100)
=24000×(
100
110
)
2
(1+
2
5
×100)
=24000×
100
110
×
100
110
×[1+
40
1
]
=24000×11×11×41/40=6×11×11×41
A=29766
Answered by
12
ANSWER
P=24000
Rate=10% per annum compounded annually
Time =2 year 3 month=3+
12
2
=2+
4
1
years
A=P(1+
100
r
)
n
(1+[fraction time rate]/100)
=24000(1+
100
10
)
2
(1+[1/4×10]/100)
=24000×(
100
110
)
2
(1+
2
5
×100)
=24000×
100
110
×
100
110
×[1+
40
1
]
=24000×11×11×41/40=6×11×11×41
A=29766
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