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:

answer 12500×12%=1500

1500×3=4500

12500+4500==17000 pay the loan

Answer 2

Solution:-

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$\large\to{\underbrace{\underline{\sf{Understanding\:the\:concept:-}}}}$

$\implies$ Here it is given in the question that the principal, rate of interest and time is Rs. 12500, 12% and 3 years respectively. Here we have to find out the amount and compound interest as the question has asked us to find the he have to pay to clear his loan. So, to calculate the Amount and Compound Interest we have to first find out the amount. Then by subtracting the principal from the amount we will get the Compound Interest. The amount will be the money he have to pay back.

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ANSWER:-

• The amount is Rs. 175616.6.
• The compound interest is Rs. 5061.6.

GIVEN:-

• Principal amount = Rs. 12500
• Rate of interest = 12%
• Time = 3 years

TO FIND:-

• Here we have to find out Amount and the Compound Interest.

SOLVING STEP BY STEP:-

• To find the compound interest first we need to find the amount.
• To find the amount we have to put the values in a certain formula and solve it.

We know that:-

$\underline{ \boxed{\sf \bigstar Amount = P\Bigg[1 + \bigg(\dfrac{R}{100} \bigg)^{n} \Bigg]}}$

Where,

• P = Principal
• R = Rate
• N = Time

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• Finding the amount:-

$\sf {Amount = 12500\Bigg[1 + \bigg(\dfrac{12}{100} \bigg)^{3} \Bigg]}$

$\sf {Amount = 12500\bigg(\dfrac{100 + 12}{100} \bigg)^{3}}$

$\sf {Amount = 12500\bigg(\dfrac{112}{100} \bigg)^{3}}$

$\sf {Amount = 12500 \times \dfrac{1404928}{1000000}}$

$\sf {Cancelling \: the \: zeros.}$

$\sf{Amount = 125 \times \dfrac{1404928}{10000}}$

$\sf{Amount = \dfrac{175616000}{10000}}$

$\sf{Amount = \dfrac{175616000}{10000} = 17561.6}$

$\overline{ \boxed{\sf Amount = Rs.\:17561.6}}$

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After finding the amount if you want to solve further and find the compound interest, here's how you will do it.

• Now, we will find the compound interest as we got the amount.

We know that:-

$\underline{ \boxed{\sf \bigstar Compound \: Interest = A - P}}$

Where,

• A = Amount
• P = Principal

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• Finding the Compound Interest:-

$\sf {Compound \: Interest = 17561.6 - 12500}$

When we will subtract 12500 from 17561.6 we will get 5061.6.

$\overline{ \boxed{\sf Compound \: Interest = Rs.\: 5061.6}}$

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