Question

shalaka has taken a loan of 8000 rs at a rate of 10.5 p.c.p.a . after a 2 years how much compound interest will she have to pay? ​

Answer 1

Answer:

= (1/5) x 221 x 221

= 0.2 x 48841 = Rs 9768.20

I = Amount (A) – Principal (P)

  = 9768.20 – 8000 = Rs 1768.20 

∴ After two years Shalaka will have to pay Rs 1768.20 as compound interest