suppose u borrow 240000at 12 percent anual intrest rate to paid the end of 6 year ..What it answer
Answers
Answer:
172800
Step-by-step explanation:
P*R*T/100
SI = 172800
and CI = 233717
Step-by-step explanation:
Given that
P = 240000
R = 12%
t = 6
Formula
There will be 2 Formula and so 2 answers as you haven't mentioned that whether it is Compound Interest or Simple Interest. No worry I will solve the both for you
- SI = (PRT /100)
- CI = P [1 + R/100]^t
Applying the formula
First solving for Simple Interest
SI = PRT / 100
Therefore SI = 240000 x 12 x 6 /100
Therefore SI = 2400 x 12 x 6
Therefore SI = 172800
Now time for 2nd formula
CI = 240000 x [1 + (12/100)]^ 6 - 1
CI = 240000 x [ (112⁶ - 100⁶) / 100⁶]
Solving this complicated equation using a calculator, we get
CI = 233717.4444......
Rounded of CI = 233717
Therefore we get SI = 172800 and CI = 233717
If you further want to find the Amount then add the Interest to the Principle
Thank you.
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