Tanisha borrowed a sum of Rs 75000 from abank for 2 years at 15% pa. c

1.	Tanisha borrowed a sum of Rs 75000 from abank for 2 years at 15% pa. compoundinterest. Find the amount payable by Tanishaafter 2 years by using simple interest formula.
Answer» Principal amount = Rs 75,000 Period = 2 years Interest = 15% p.a. Find the amount at the end of 1 year: Interest = 15% x Rs 75,000 = 0.15 x 75000 = Rs 11,250 Total amount = 75000 + 11250 = Rs 86, 250 Find the amount at the end of 2 years: Interest = 16% of Rs 86,250 = 0.15 x 86,250 = Rs 12,937 Total amount = 86, 250 + 12,937 = Rs 99,1 87 ok thanks

Tanisha borrowed a sum of Rs 75000 from abank for 2 years at 15% pa. compoundinterest. Find the amount payable by Tanishaafter 2 years by using simple interest formula.

Answer»

Principal amount = Rs 75,000

Period = 2 years

Interest = 15% p.a.

Find the amount at the end of 1 year:

Interest = 15% x Rs 75,000 = 0.15 x 75000 = Rs 11,250

Total amount = 75000 + 11250 = Rs 86, 250

Find the amount at the end of 2 years:

Interest = 16% of Rs 86,250 = 0.15 x 86,250 = Rs 12,937

Total amount = 86, 250 + 12,937 = Rs 99,1 87

thanks