Question

Wahida borrowed ₹25000 for 1 year 5 months at 12% per annum compounded yearly. Find the amount Wahida paid to settle the account.​

Answer 1

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Answer 2

Answer:

Amount after 1 year and 5 months= ₹ 29,400

Step-by-step explanation:

P = 25,000

Rate = 12%

For 1 year :

$I = \frac{25000*12*1}{100} = 3000$

Principal after 1 year = 25000 + 3000 = 28000

For 5 months :

Time = 5 months = 5/12 years

$I = \frac{28000*12*5}{12*100} = 1400$

Amount after 1 year and 5 months = 28,000 + 1,400 = 29,400