Question

Ratna obtained a loan of 25000 from the Syndicate Bank to renovate her house. If the rate of interest is 8% per annum, what amount will she have to pay to the bank after 2 years to discharge her debt?​

Answer 1

Answer:

29000

Step-by-step explanation:

8% of 25000 = 2000

for 1 year it is 2000

so for 2 years it is 4000

25000 + 4000

= 29000

Answer 2

Answer:

29160

Step-by-step explanation:

Given: Present value= ₹ 25000

Interest rate= 8% per annum

Time=2 years

To find the amount we have the formula,

Amount (A) = P (1+(R/100))n

Where P is present value,

r is rate of interest,

n is time in years.

Now substituting the values in above formula we get,

∴ A = 25000 (100 + 8/100)2

⇒ A = 25000 (108/100)2

⇒ A = 25000 (1.08)2

⇒ A = 25000(1.1664)

⇒ A = ₹ 29160

Ratna has to pay ₹ 29160

PLEASE MARK ME AS BRAINLIST