Question

Solve the following...
1. Mahesh lends * 36000 from a bank for 3 years at 8% compound interest. Because of improved financial condition, he wants to repay the loan just after two years. How much will he pay at the end of 2 years? How much more will he pay, if he repays the loan at the end of 3 years?



Note.
Solve in proper way and send me this is my humble request to you. Thanks​

Answer 1

Here, V=Rs.30000,r=12%=0.12 and n=20.

We know V= rA

[1−(1+r) −n ]

Thus 30000= 0.12A

[1−(1+0.12) −20 ]

⇒ A= [1−(1+0.12) −20 ]

30000×0.12

⇒ A= [1−(1.12) −20 ]3600

⇒ A= Rs. 4016.76

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