Question

Pankaj borrowed a sum of Rs.8,000 from a bank at 5%p.a. compounded yearly for 2 years.The compound interest paid by Pankaj at the end of 2 years will be Rs​

Answer 1

Step-by-step explanation:

Let the sum be Rs. p

Then according to the question,

(p × 2 × 10)/100 + (p × 3 × 12)/100 + (p × 2 × 15)/100 = 5332

⇒ (20 × p)/100 + (36 × p)/100 + (30 × p)/100 = 5332

⇒ (86 × p)/100 = 5332

⇒ p = 5332 × 100/86 = Rs. 6200