Question

sujata borrowed ₹15000 from a bank to purchase a TV set. If the bank charges intrest quarterly at the rate of 8% per annum, what is the amount she has pay at the end of 9 months to clear her debt
please answer it i will mark it as branliest and will like it.and if the answer will be wrong I will report your answer​

Answer 1

The amount she has to pay at the end of 9 months to clear her debt is Rs.15918.2

Step-by-step explanation:

Principal = Rs.15000

Rate of interest = 8%

No. of compounds per year = 4

Time = 9 months = \frac{9}{12}=\frac{3}{4} year

12

9

=

4

3

year

Formula :Amount = P(1+\frac{r}{n})^{nt}Amount=P(1+

n

r

)

nt

P = Principal

T = time

r = rate of interest

n = no. of compounds

Substitute the values in the formula :

Amount = 15000(1+\frac{8}{400})^{4 \times \frac{3}{4}}=15918.12Amount=15000(1+

400

8

)

4×

4

3

=15918.12

Hence The amount she has to pay at the end of 9 months to clear her debt is Rs.15918.2