Math, asked by GirishTN9276, 7 months ago

Reena took a loan of 20000 for 2 year at the 12% per annum the interest being compounded annually find the amount at the end of 2 years that he has to pay

Answers

Answered by sunitabaknad1
3

Answer:

Rs.25,088

Step-by-step explanation:

Principal amount P =Rs.20,000

Compound Interest rate r =12% per annum =12/100=0.12

No.of years t =2 yrs

No.of times compounded n = 1 (since compounded annually)

Amount to be paid at the end of 2 years A=P (1+r/n)^nt

=20,000(1+(0.12/1))^(1*2)

=20,000(1.12)^2

= Rs.25,088

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