Question

Ramesh borrowed 12,000 from Raman for 2 years at 12.5% per annum. Find the amount payable by Ramesh at the end of 2 years when interest is compounded annually.​

Answer 1

• P = 12000
• R = 12.5%
• T = 2 years
• P1 = ₹12000
• I1 = ₹1500
• A1 = ₹13500
• CI2= ₹1687.5
• A2 = ₹15187.5
• Amount that Ramesh could pay at the end of 2nd year = ₹15187.5

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Answer 2

Answer:

P = 12000

R = 12.5 %

T = 2 years

P1 = ₹12000

l1 = ₹1500

A1 = ₹13500

C12 = ₹1687.5

A2 = ₹15187.5

Amount that Ramesh could pay at the end of 2nd year = ₹15187.5