Question

:- ROHAN BORROWED rs:1,20,000,FROM A BANK FOR FOUR YEARS AT THE RATE OF 8 P.C.P.A FOR HIS EDUCATION.WHAT IS THE TOTAL AMOUNT HE RETURNED TO THE BANK AT THE END OF THAT PERIOD

Answer 1

Answer:

Compound Interest is nothing but Simple interest per year with the amount at the end of every year being the principal for the next year.

For the first year ,

Simple Interest SI=

100

PNR

So, SI=

100

25000×1×20

=Rs5000

So, Amount A=25000+5000=Rs30000

For the second year ,

P =30000−8000=Rs22000

So, SI=

100

22000×1×20

=Rs4400

So, Amount A=22000+4400=Rs26400

For the third year ,

P =26400−8000=Rs18400

So, SI=

100

18400×1×20

=Rs3680

So, Amount A=18400+3680=Rs22080

Step-by-step explanation:

So ur answer is Rs. 22080