Question

SSLC Preparatory Exam 2020...
On 24/02/2020...
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Answer 1

Answer:

Explanation:Amount borrowed = Principal= ₹26400= P Rate=15%p.a =r Time =t=2 years 4 months =2 4/12 =2 1/3 =7/3 years . Amount to be paid for principal compounded yearly = P(1+ r/100)^t So Amount she shall pay at the end of 2 years 4 months to clear the loan =26400(1+15/100)^7/3 =26400(1+ 15/100(7/3) [this approximation is binomial theorem which. implies (1+x)^n can be approximated as 1+nx where x is very much less than 1] =26400(1+35/100) =26400(1.35)= ₹35640.