Question

Neha borrowed rs 24000 from the state Bank of india to buy a scooter .If the of interest be 10%per annum compounded annually ,what payment will she have to make after 2 years 3 months?

Answer 1

we can use the compound interest formula for 2 years and 3 months or we can use the simple interest for every year and finally for 3 month we can you the compound interest formula and add the amount then we can know the compound interest

Answer 2

6600 Rs. this will be your answer