Prakash borrows a sum of ₹35000 at 5 percent per annum compounded an – InterviewSolution

1.	Prakash borrows a sum of ₹35000 at 5 percent per annum compounded annually for 24 months , the amount he will pay is
Answer» -STEP EXPLANATION:AMOUNT = 35000(1+5/100)(1+5/100)amount = 35000 × 21/20 × 21/20amount = 87.5 × 21 × 21amount = ₹38587.5

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