Sunil takes a loan from a financier at 100% p.a.
interest. When he was repaying it after three years,
he had to pay 7952000 more because the loan was
compounded every moment, instead of annually.
What was the loan taken? [Take e = 2.71 and
(2.71)3 = 19.9)
Answers
Answer:
lol ,the teacher the question is to confusing
Given : Sunil takes a loan from a financier at 100% p.a. Interest.
When he was repaying it after three years, he had to pay ₹ 952000 more because the loan was compounded every moment, instead of annually.
[Take e = 2.71 and (2.71)³ = 19.9)
To Find : What was the loan taken
Solution:
Loan Taken = P
Amount A = P ( 1 + R/100)ⁿ compounded annually
A = P (1 + 100/100)³
A = 8P
Amount A = P (e³) compounded every moment, instead of annually.
A = 19.9P
Difference = 19.9P - 8P = 11.9P
11.9P = 952000
=> P = 80000
Hence Loan amount was Rs 80000
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