Q36: Meena borrowed a sum of Rs
62500 from Savita for two and half
years. If the rate of interest is 12% per
annum compounded annually. Find
the amount paid back by Meena.
Also, find the compound interest.
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Answer:
Principal = ₹62500
Time = 2.5 years
Rate of interest = 12%
Therefore, S.I = (PXRXT) /100
(62500X12X2.5)/100
= 625X12X2.5
= ₹18750 (Simple Intrest)
Amount will be = (Principal + Amount)
= 62500+18750
= ₹81250
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