Question

Q3) Samer has taken a loan of Rs. 12,500 at the rate of 12% per annum
for 3 years. If the interest is compounded annually then what is the
amount that he will pay while returning?​

Answer 1

..Question..ㅤㅤ

Samer has taken a loan of Rs. 12,500 at the rate of 12% per annum for 3 years. If the interest is compounded annually then what is the amount that he will pay while returning ?

..Answer..

Given ,

ㅤㅤㅤ➪ Principle = Rs 12500

ㅤㅤㅤ➪ Rate ㅤㅤ= 12 %

ㅤㅤㅤ➪ Timeㅤㅤ= 3 years

•°• According to the Question :

°•° We know that ,

☯︎ Amount = Principle + C.I

➪ Amount = P ( 1 + r/100 ) ^ t

➪ Amount = 12500 ( 1 + 12/100 ) ³

➪ Amount = 12500 ( 1 + 3/25 ) ³

➪ Amount = 12500 ( 22/25 ) ³

➪ Amount = 12500 × 22/25 × 22/25

➪ Amount = 20 × 22 × 22

➪ Amount = 20 × 484

➪ Amount = 9680

•°• Compound Interest = 12500 - 9680

ㅤㅤㅤㅤㅤㅤㅤㅤㅤㅤㅤ= 2820

➪ Compound Interest = Rs 2820

[ Hey , I am Lily ☺️ ]

ㅤㅤㅤ꧁ ʙʀᴀɪɴʟʏ×ᴋɪᴋɪ ꧂

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