Question

Prateek borrowed 64000 rupees from a bank . if the rate of interest is 25 paise per ten rupees per annum compounded annually. calculate the amount paid by him after 2 years.

Answer 1

do multiplication..........

Answer 2

The amount paid by him after 2 years is Rs. 67240.

Step-by-step explanation:

Since we have given that

Sum = Rs. 64000

Time = 2 years

Rate of interest = $\dfrac{25}{10\times 100}=\dfrac{25}{1000}=\dfrac{1}{40}$

So, Amount would be

$A=P(1+\dfrac{r}{100})^n\\\\A=64000(1+\dfrac{1}{40})^2\\\\A=64000(\dfrac{41}{40})^2\\\\A=67240$

Hence, the amount paid by him after 2 years is Rs. 67240.

# learn more:

Ramesh borrowed 7000 rupees from a bank for 1 year at the rate of 10% per annum. the interest to be paid after one year is

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