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His loon3. To start a business Shalaka has taken a loan of?8000 at a rate of 103 Ń.cmaAfter two years how much compound interest will she have to pay ? |
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Answer» It is given that , principal ( p ) = Rs 8000 Rate of interest ( R ) = 10½ % p.a = 21/2 yrs Time ( T ) = 2 years number of times interest paid = n = 2 Amount = A A = P( 1 + R/100 )ⁿ A = 8000 ( 1 + 21/200 )² A = 8000 ( 221/200 )² A = ( 8000 × 48841 )/ 40000 A= Rs 9768.20 Compound Interest ( C . I ) = A - P = Rs 1768.20 According to this question,Principal=Rs8000Rate=20/2Time=2 years Simple Interest for the first year = 8000*20*1/100*2 = Rs 800Amount= Rs 8000 + Rs 800 =Rs 8800Simple Interest for the second year = 8800*20*1/100*2 = Rs 880Amount = Rs 8800 + Rs 880 = Rs 9680Compund Interest = Final value - Initial valueRs 9680 - Rs 8000 = Rs 1680 p=8000r=10 5 2t=2yearsI=PRT 100I =8000*10 5*2 100*2i=40*10*5*2i=4000 |
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