Question

Yogesh borrowed a sum of rupees 16000 from the bipin at the rate of 12% per annum compound interest find the amount payable by Yogesh after 3years to bipin​

Answer 1

Answer:

So, Yogesh will pay 22478.85 rs. after 3 years.

Step-by-step explana

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Answer 2

Answer:

Interest at the end of first year=16000×12×1/100=1920

Amount at the end of 1 year=16000+1920=17920

Interest at the end of second year=17920×12×1/100=2150.4

Amount at the end of second year=17920+2150.4=20070.4

Interest at the end of third year=20070.4×12×1/100=2408.448

Final amount=22478.848

CI=final amount - principal amount =6478.848

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