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Abhishek borrowed 15625 Rs from a …

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Abhishek borrowed 15625 Rs from a finance company to buy t.v if the rate of interest be 16% compounded annually what payment he will have to make after 2 1/4 years?

Posted by Kaveri Kanjania 2 years, 11 months ago

CBSE > Class 08 > Mathematics

1 answers

Puspanjali Pradhan 2 years, 11 months ago

Principal (P)=Rs. 15625 Rate (R) =16% Period =214 years. Amount for 2 years is given by Amount =P(1+R100)2 =Rs.15625(1+16100)2 =Rs.15625×(2925)2 =Rs.15625×2925×2925 =Rs.21025 Principal of next 14 years, P=Rs. 21025 [Amount till now] Interest for 14 years is given by I=P×R×T100 =21025×16×14100 =Rs. 841 Total amount of =214 years =21025+841=Rs. 21866

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CBSE > Class 08 > Mathematics