Neha borrowed rs 50000 from a bank for 9 months at the rate of 12% per annum compounded quarterly. How, much she have to pay at the end of term
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Answered by
12
Answer:
Rs 54636.35
Step-by-step explanation:
Principal amount = Rs 50,000
Interest rate per quarter = 12 ÷ 4 = 3%
Period = 9 months = 3 quarters
Find the amount she has to pay at the end of 9 months:
Amount = P(1 + r/100)ⁿ
Amount = 50000(1 + 0.03)³
Amount = Rs 54636.35
Answer: Rs 54636.35
Answered by
1
Answer54636.35
Step-by-step explanation:
Your answers is 5436.35
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