Question

reshmi family was financially not sound. in order to meet the expenses of her marriage her parents took a loan of rs 50000 from a money lender at a rate of 10% compounded annually for the 3years how much money will they have repay to the leader at the end of 3 years.

Answer 1

Step-by-step explanation:

here is a picture of how to solve it, and I have provided the formula too so u can use it for other questions... (:

Answer 2

The amount of money that Reshmi's family has to return is Rs. 66550.

• Given :

Amount taken loan by Reshmi's family from the moneylender is Rs. 50000

Rate of interest compounded annually = 10%

Number of years for which the loan is taken = 3 years

• Formula to compute the compound interest is

Compound Interest = $P(1+\frac{R}{100})^T$

here, P = 50000 , R = 10 and T = 3

• Substituting in the formula , we get

Compound Interest = $50000(1+\frac{10}{100})^3$

Compound Interest = 50000(1.1)³

Compound Interest = 66550

• Reshma's family has to pay Rs. 66550 at the end of 3 years to repay to the leader.