Question

rupees 20600 is borrowed at 8% rate of interest per annum for 2 years find the amount to be paid at the end of second year​

Answer 1

Step-by-step explanation:

Given,

P- 20600

R - 8%

no. of yrs OR time - 2 yrs

Amount- p( 1 + r/100 )^2

20600( 1 + 8/100)^2

= 20766.86

Answer 2

Amount at the end of 2 years is ₹24027.84.

Explanation:

Given: Rupees 20600 is borrowed at 8% rate of interest per annum for 2 years

To find: The amount to be paid at the end of second year​.

Solution:

We have,

$P=20600$, $R=8$% $T=2$ yrs.

We know that to calculate the Amount we have

$A=P(1+\frac{r}{100} )^{t}$

On substituting the values we have,

$A=20600(1+\frac{8}{100} )^{2}$

$A=20600(\frac{108}{100} )(\frac{108}{100})$

$A=\frac{206\times108\times108}{100}$

$A=24027.84$

Hence, the amount at the end of 2 years is ₹24027.84.

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