Question

stanzin borrowed 30000 from the bank at the rate of 14½% per annum for 2½ years. find the interest and amount paid by him at the end of 2½ years​

Answer 1

Answer:

Was this answer helpful?

Step-by-step explanation:

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

We know V=

r

A

[1−(1+r)

−n

]

Thus 30000=

0.12

A

[1−(1+0.12)

−20

]

⇒ A=

[1−(1+0.12)

−20

]

30000×0.12

⇒ A=

[1−(1.12)

−20

]

3600

⇒ A= Rs. 4016.76