Question

Ratna obtained a loan of rupees 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 two years to discharge her debt

Answer 1

First we need to find the simple interest on RS.25000,

$si = \frac{25000 \times 8 \times 2}{100} \\ = 4000$
So the simple interest will be RS. 4000

Therefore the amount she has to pay to the bank at the end of two years = RS. 29000

Answer 2

Answer:

Rs.29160

Step-by-step explanation:

Given :Ratna obtained a loan of rupees 25000 from the syndicate Bank to renovate her house

To Find : If the rate of interest is 8% per annum what amount will she have to pay to the bank after two years to discharge her debt

Solution :

Principal = Rs.25000

Rate of interest = 8%

Time = 2 years

Formula : $A = P(1+r)^t$

$A = 25000(1+\frac{8}{100})^2$

$A =29160$

Hence She have to pay Rs.29160 to the bank after two years to discharge her debt