to renovate his ice cream parlour Pratham took a loan of rupees 80000 from the bank if the bank charges interest at the rate of 5% per annum compounded annually find the compound interest paid by Pratham of the end of three years find answer please please please
Answers
Answered by
1
Answer:
Step-by-step explanation:
Compounded Half-yearly
For the first year
P=80000,R=10%,% ,T=1
Interest=
100
PRT
=
100
(80000×10×1)
=8000
Amount=Interest+Principle=80000+8000=88000
For second-year principle will be the amount of previous year (since interest is compounded)
P=88000,T=6months=
12
6
years=0.5,R=10%P.a.
Interest=
100
PRT
=
100
(80000×10×0.5)
=4400
Totalinterest=88000+4400=92400
Compounded Annually
P=80000,R=10/2%=5%,% $$,
T=
2
3
years ,n=3
A=80000(1+
100
5
)
3
A=80000(
20
21
)
3
A=92610
Thus the difference between the amounts =92610−92400=Rs.210
Answered by
1
Answer:
The answer is 92,608 Rs to clear the loan.
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