Question

Ruhi obtained a loan of ₹55000 from a national bank to renovate her house. if the rate of interest is 12% per annum, what amount will she have to pay to the bank after 3 years to discharge her debt?​ answer 77271 solve this!​

Answer 1

Step-by-step explanation:

amount she will have to pay to discharge her debt

= p( 1+ r/100)^t =55000(1 + 12/100)^3

= 55000 × (1.12)^3

= Rs 77271.04 Answer

Answer 2

She will have to pay ₹77,271.04 to the bank after 3 years to discharge her debt =  .

Explanation:

The formula to find the compound amount after years:

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

, where

P= Initial amount borrowed

r=rate of interest ( in decimal)

As per given , we have

P= ₹ 55000

r= 12%= 0.12

t= 3

Then, the amount will she have to pay to the bank after 3 years to discharge her debt would be (Put the above values in the formula)

$A=55000(1+0.12)^3\\\\ =55000(1.12)^3=77271.04$

Hence, She will have to pay ₹77,271.04 to the bank after 3 years to discharge her debt .