Question

ram took a lone of 40000 from a bank at 8% per annum for 2 years to buy a motorcycle .what amount ram had to pay to the bank after 2 years

Answer 1

Hi there!
Here's the answer:

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Given,.
P = 40000
R = 8%
n = 2 years
Amount = ?

$Amount = P(1 + \frac{R}{100})^{n}$

=>$Amount = 40000(1 + \frac{8}{100})^{2}$

= 40000(1 + 0.08)²
= 40000(1.08)²
= 40000(1.1664)
= 46656₹


•°• Ram had to pay to bank am amount of 46656₹ after 2 years

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