Math, asked by Tanishq256, 1 year ago

Rahul borrowed rupees 5500 at 8% per annum for 2 years find the amount he pays at the end of the period

sosoraja: it is banking

sosoraja: question

Answers

Answered by TooFree

A = P(1 + r)ⁿ

Convert the rate from percentage to decimal:

8% = 0.08

Find the amount he would need to pay:

A = 5500(1 + 0.08)²

A = Rs 6415.20

Answer: Rahul will have to pay Rs 6415.20.

AmrithaVSN: yes

TooFree: :)

PADMINI: yup , now its correct . and last line its rahul.

anudh911: ??

sosoraja: it is banking question

sosoraja: follow the banking rule

sosoraja: it is wrong

TooFree: So the banks go by compound interest right?

TooFree: Okay, I have checked it out with the expert and it is right, we should go by compound interest. I have edited back my answer to reflect the compound interest. Apology for all the confusion.

PADMINI: if it is banking question , its right @toofree, but if its a question from 6th or 7th grade maths textbook , then simple intrest is right.

Answered by AmrithaVSN

principle amount = 5500
rate = 8%
time = 2 years
TO FIND SIMPLE INTEREST:
PRT/100
5500×8×2÷100 = 880
total amount = 5500 + 880
= 6380

sosoraja: it is banking not a simple interest

AmrithaVSN: I did it in SIMPLE INTEREST method:)

sosoraja: but it is wrong

AmrithaVSN: :)

sosoraja: follow the banking rule

AmrithaVSN: ok:))

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