1.

a person borrowed rs 7500 at 16% per annum compound interest. what is the amount of c.i he has to pay at the end of 2 years to clear the loan

Answer»

P = RS. 7500

R = 16%

T = 2 years.


A = P(1 + (R/100))^T

A = 7500(1+ (16/100))^2

A = 7500*(116/100)*(116/100)

A = Rs. 10092


CI = A-P

CI = 10092 - 7500

CI = Rs. 2592



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