Question

Shubhalaxmi took a loan of ₹18000 from Surya finance to purchase a tv set. If the company charges compound interest at 12% per annum during first year and 12½% per annum during the second year, how much will she pay after 2 years?

Answer 1

$answer$

For r=12%$,P=Rs.18000

$\boxed{a = 18000 \: (1 + \frac{12}{100} } )^{1}$

$= 20160$

For r=12.5%$,P=Rs.20,160

$\boxed{a = 20000(1 + \frac{12.5}{100} ) ^{1 } } = 20160$

answer = 22680

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