Subhalaxmi took a loan of Rs.18000 from surya Finance to purchase a Tv set .If the compound interest at 12% per annum during the first year and 12% per annum during the second year 1, how much will she have to pay after 2 years .
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Answer:
Answer :
Present value = Rs.18000
Interest rate for 1st year, p = 12 % per annum
Interest rate for 2nd year, q = (25/2) % per annum
Time = 2 years
Amount (A) = P × (1 + p/100) × (1 + q/100)
A = 18000 × (1 + 12/100) × [1 + (25/2)/100]
= 18000 × (112/100) × [1 + 25/200]
= 18000 × (112/100) × [1 + 1/8]
= 18000 × 112/100 × 9/8
= 180 × 112 × 9/8
= 180 × 14 × 9
= 22680
∴ Amount = Rs.22680
∴ Shubhlaxmi has to pay Rs.157464 after 2 years.
Step-by-step explanation:
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Answered by
1
Step-by-step explanation:
For r=12%$,P=Rs.18000
A=18000(1+
100
12
)
1
=Rs.20,160
For r=12.5%$,P=Rs.20,160
A=20000(1+
100
12.5
)
1
=Rs.20,160=Rs.22,680
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