Question

OLCUUM
Q.5(a)Nancy borrowed Rs. 24000 from the State Bank 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?​

Answer 1

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