Question

Sunil borrowed 24000 from the Punjab National Bank to buy a T.V. If the rate of interest be
10% per annum compounded annually, what payment will he have to make after 9/4 years
​

Answer 1

Answer:

5400

Step-by-step explanation:

first find the one year rate of interest

[2400×⅒]

=240

and now find 9÷5 years rate of interest

that is :

=(2400×9)÷4

=600×9

=5400

Thus 9÷4 years rate of amount = 5400