Question

Ramu borrowed rupees 15625 from a finance company to buy a scooter if the rate of interest be 16% per annum compounded annually what payment will he have to make after 9/4 years​

Answer 1

Step-by-step explanation:

Amount to be paid after 9/4 years =>

Principal(1 + interest/100)^9/4 =>

15625(1+0.16)^2.25 =>15625(1.16)^2.25 =>

15625(1.3964665) =>21,819.7867 => 21819.78 ruppees. Hope it helps you.