Neha borrowed Rs 24000 from SBI to buy a scooter. If the rate of interest is 10% per annum
compounded annually, what payment will she have to make after 2 year and 3 months .
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Answer:
neha borrowed 24000₹
interest for 1st year 10% on 24000₹
= 2400 interest
remaining 24000-2400
= 21600₹
interest for 2nd year 10% on 21600₹
=2160
remaining 21600-2160
=19440₹
interest for next three months
19440×10/100×3/12
=485
remaining 19440-485
=18955
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