Yadaiah for his family needs borrowed 5120 at 12% per annum compounded 2 annually. How much amount he has to pay to clear the debt at the end of two year nine months? Also find total how much interest he has paid? Solution: Reshma tried to solu 1 11
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Answer:
Step-by-step explanation:
given,
P = 5120 Rs
r = 12.5 %
n = 2years 9 months =2 years + 9/12 years
= ( 2 + 3/4) years = 11/4 years
now,
use formula,
A = P( 1 + r/100)^n
=5120( 1 + 12.5/100)^11/4
=5120( 1 + 25/200)^11/4
=5120(1 + 1/8)^11/4
=5120(9/8)^2.75
=7078.47 Rs
now, interest = A -P = 7078.47 -5120
= 1958.47 Rs
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