A person takes a loan of 3500 at the rate of 2%per month. find the amount​

Question

A person takes a loan of 3500 at the rate of 2%per month. find the amount​

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Hadley 2 months 2021-07-31T04:30:59+00:00 2 Answers 0 views 0

Answers ( )

    0
    2021-07-31T04:32:30+00:00

    Answer:

    Aapne time to Likha hi naahi hai

    0
    2021-07-31T04:32:47+00:00

    Step-by-step explanation:

    Given Principle: Rs3500, Rate= 20%.p.a and Time : 2 years

    To find : Compound interest

    P: Rs3500, R= 20%p.a , T= 2years

    Amount = P (1+20/100)2

    A = 3500(1+20/100)2

    = 3500 (1+1/5)2

    =3500(6/5)2

    = 3500×6/5×6/5

    = 5040

    Now.C.I = A-P

    = 5040-3500

    = rs1540

    Hence the compound interest is rs 1540

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