Question

Rahim took a loan of 60,000 rupees from a financial
establishment which pays interest at 9% annual rate,
compounded every 4 months. How much has he to pay back
after 1 year?
(3)​

Answer 1

Answer:

604050

Step-by-step explanation:

P=60000

R=9%p.a=9/4%per 4 months

T=1y=12/4every 4 months

S.I=60000×9×3/100×4

=4050

therefore amount=60000+4050=64050

Answer 2

Answer:

77701.74

Step-by-step explanation:

P-60000

R- 9

T-3

$amount = p \: (1 \times r \ 100)^n\\ = 60000(1 \times 9 \div 100)^3 \\ 60000(109 \div 100)^3 \\ 60000 \times 109 \div 100 \times 109 \div 100 \times 109 \div 100 \\ =$

$= 77701.74$