Question

Nirahua Road 24000 from the State Bank of India to buy a scooter at the rate of interest is 10% per annum compounded annually what payment will she pay after 2year 3months

Answer 1

Principal = 24000
Rate = 10%
Time = 27/12 years
SI = PRT/100
SI = 24000×10×27/12×100
SI = 5400
Amount = P+SI
Amount = 24000+5400
= 29400

Answer 2

24000÷100=2400
2400÷10=240
240×3=720
2400×2=4800
4800+720=5520