1.

How much will she have to pay after 2 years? 11. Neha borrowed 24000 from the State Bank of India to buy a scooter. If the rate of interestbe 10% per annum compounded annually, what payment will she have to make after 2years 3 months?1932Hint. 2 years 3 months =21years.1000​

Answer»

29766Step-by-step explanation:principal =24000 rate of interest [r]  =10% per annum COMPOUNDED annually time [N]  =2 years 3 months  =2+ 3 /12 = 2 +1/4 years A = P (1 + r/100) ^ n( 1+ [fractional time*rate] /100 ) A = 24000(1 + 10/100) ^ 2( 1+ [1/4*10] /100 ) A = 24000(110/100) ^ 2( 1+ [ {5/2} /100 ) A = 24000*110/100 *110/100 ( 1+ 1/40) A = 2400*11*11 *41/40 A = 6*11*11 *41 A=29766  ANS



Discussion

No Comment Found

Related InterviewSolutions