2. Sameerao has taken a loan o/712500 at a rate of 12 p.c.pa. for 3 ye

1.	2. Sameerao has taken a loan o/712500 at a rate of 12 p.c.pa. for 3 years. If theinterest is compounded annually then how many rupees should he pay to clearhis loan ?
Answer» Amount = P{1 + (r/100)}^n or, we know the values of P, r, n. P = Rs 12500, r = 12% and n = 3yrs. CI = 12500{1 + (12/100)^3 or, 12500{(112 x 112 x 112)/(1000000)} or, Rs 17561.6 (Ans) Therefore, Sameerrao has pay to pay Rs 17561.6 to clear his loan Like my answer if you find it useful!

2. Sameerao has taken a loan o/712500 at a rate of 12 p.c.pa. for 3 years. If theinterest is compounded annually then how many rupees should he pay to clearhis loan ?

Answer»

Amount = P{1 + (r/100)}^n

or, we know the values of P, r, n.

P = Rs 12500, r = 12% and n = 3yrs.

CI = 12500{1 + (12/100)^3

or, 12500{(112 x 112 x 112)/(1000000)}

or, Rs 17561.6 (Ans)

Therefore, Sameerrao has pay to pay Rs 17561.6 to clear his loan

Like my answer if you find it useful!