Ram took a personal loan of 20000 from state bank of India for 3 years at the rate of 12% per annum compound intrest.Calculate the amount paid by him to clear his loan and total interest
Answers
Answered by
17
A = P(1+r/100)^n
=20000(1+12/100)^3
=20000(112/100)^3
=20000(28/25)^3
=(32×28×28×28)/25
=(21952×32)25
=702464/25
=28098.56
CI=A-P
=28098.56-20000
CI=8098.56₹
=20000(1+12/100)^3
=20000(112/100)^3
=20000(28/25)^3
=(32×28×28×28)/25
=(21952×32)25
=702464/25
=28098.56
CI=A-P
=28098.56-20000
CI=8098.56₹
Similar questions