Question

veena borrowed 512000 from a bank for 9 months if the bank charges interest at rate 5÷2% p.a. compounded quarterly what amount will she have to pay after the given time period also find interest paid by her​

Answer 1

Veena have to pay 521660.125 after the given time period.

The interest paid by her​ 9660.125.

Step-by-step explanation:

Formula for compound interest

$A=P(1+\frac{r}{n})^{nt}$

where, P is principal, r is rate of interest, n is number of interest compounded in a period, t is number of periods.

Given information:

Principal (P)=512000

Time(t)= 9 months = 9/12 = 0.75 year

Interest rate = 5/2% = 0.025

Interest compounded quarterly, so (n) = 4

Substitute these values in the above formula.

$A=512000(1+\frac{0.025}{4})^{4(0.75)}$

$A=512000(1.00625)^{3}$

$A=521660.125$

Therefore she have to pay 521660.125 after the given time period.

Interest = Amount - Principal

$Interest=521660.125-512000$

$Interest=9660.125$

Therefore, the interest paid by her​ 9660.125.

#Learn more

Namita borrowed rupees 15000 from a bank if the rate of interest is 8% per annum compounded quarterly what is amount she has to pay at the end of 9 month??​

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Answer 2

Answer:

600000

Step-by-step explanation:

i think this is the answer