Question

sameerao has taken loan of Rs 12500 ar rate of 12 p.c.p.a. for 3 years if the interest is compound annually,then how many rupees should he pay to clear his loan​

Answer 1

Answer:

Question=

sameerao has taken loan of Rs 12500 ar rate of 12 p.c.p.a. for 3 years if the interest is compound annually,then how many rupees should he pay to clear his loan

Here is your answer=

formula for compound Interest is =

P (1+r/100)

p =Rs 12,500

Rate = 12℅

Number of years= 3 years

Amount= 12,500 (1+12/100)^3

Amount=12,500(100+12/100)^3

Amount=12,500(112/100)^3

Amount=12,500 (112/100) (112/100) (112/100)

(17,561,600,000/1,000,000)= 17,561.6

So The total amount sameer rao returned= Rs 17,561.6