Question

Priya borrowed colour TV set for 20000 If the shopkeeper charged interest at 50 % per annum compounded annually what amount will she pay after 3 years​

Answer 1

Answer:

borrowed sum=Rs20000

After 3 yrs

A=20000 (I +50/100)3

A = 20000x(150/100)3

=67500

she has to pay Rs67500

Answer 2

Priya will pay Rs 67500 after 3 years

Solution:

Given that,

Priya borrowed TV set for 20000 which means principal sum = 20000

Rate of interest = 50%

Number of years = 3

The formula for amount when interest is compounded annually is:

$A=P\left(1+\frac{R}{100}\right)^{T}$

Where,

P is the principal sum

A is the total amount

R is the rate of interest

T is the number of years

Plugging in values we get,

$\begin{array}{l}{A=20,000\left(1+\frac{50}{100}\right)^{3}} \\\\ {A=20,000\left(1+\frac{1}{2}\right)^{3}}\end{array}$

On solving we get,

$A=20000(1.5)^{3}=67500$

Hence Priya will pay Rs 67500 after 3 years

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