Vicky borrowed RS.26,400 from a bank to buy a scooter at the rate of 15% p.a compounded yearly . what amount will he pay at the end of 2 year and 4 month to clear the loan ?
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1
A
=
P
(
1
+
R
100
)
t
P = 10800, R
=
12
1
2
%
and t = 3 years
So,
A
=
10800
(
1
+
25
200
)
3
=
10800
(
1
+
1
8
)
3
=
10800
(
9
8
)
3
=
10800
×
9
8
×
9
8
×
9
8
=
15377.34
So, Interest
=
A
–
P
not sure about the answer
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