Priya took a loan of rs 8000 from Punjab national bank of India for 3 year at the rate of 12.5%p.a. compound annually find the amount and compound interest she has to pay at the end of 3 years to clear the debit
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Answer:
11390.625 is the amount.
Step-by-step explanation:
Amount = 8000{1+12.5/100}^3
= 8000 * 112.5/100 * 112.5/100 * 112.5/100
= 8000 * 1.423828125
= 11390.625
Hence, the amount is Rs. 11390.625.
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