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Mr. Jaden borrowed Rs.3,20,000 from a bank to renovate his house. If the rate of interest is 8% p.a
compounded annually

By Josie

Mr. Jaden borrowed Rs.3,20,000 from a bank to renovate his house. If the rate of interest is 8% p.a
compounded annually
i. Find the amount paid by Mr. Jaden at the end of 2 years.
ii. Find the C.I paid by Mr. Jaden at the end of 2 years.
Find the simple interest for 2 years​

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Josie

Warm-up
Describe these pictures with suitable adjectives.
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change the order of integration
and solve integration of 0toa and integration x^2/4a xy^2dy/dx
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1 thought on “<br />Mr. Jaden borrowed Rs.3,20,000 from a bank to renovate his house. If the rate of interest is 8% p.a<br />compounded annually”

  1. Answer:

    i. 373248

    ii. 53258

    iii. 51200

    Step-by-step explanation:

    i. Compound interest formula

    [tex]p \times (1 + \frac{r}{100} )^{t} [/tex]

    p= principal

    r= rate

    t= time

    Insert value

    320000×(1+8/100)^²

    =320000×108/100×108/100

    =32×108×108

    =32×11664

    =373248

    ii. C.I= Amount- principal

    C.I= 373248-320000

    C.I= 53248

    iii. Simple interest formula

    [tex] \frac{p \times t \times r}{100} [/tex]

    320000×2×8/100

    =3200×2×8

    =6400×8

    =51200

    Reply

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