Question

Prakash borrows a sum of ₹35000 at 5 percent per annum compounded annually for 24 months , the amount he will pay is​

Answer 1

Step-by-step explanation:

• Amount = 35000(1+5/100)(1+5/100)
• amount = 35000 × 21/20 × 21/20
• amount = 87.5 × 21 × 21
• amount = ₹38587.5

Answer 2

Step-by-step explanation:

Prakash borrows $ = 3500(1+5/100)(1+5/100)

answer is = 38587. 50