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CBSE Class 8 Answered

Ramen took a loan of 130000 from a finance company at the rate of 10 p.a. for 15 months to purchase a motor cycle .How much amount will he pay if the interest is calculated compounded quarterly ?
Asked by jeetabhi0012 | 25 Oct, 2021, 10:15: PM
Expert Answer
Interest = 10% p.a.
Quaterly interest = 10/4 % p.a.
Amount equals 13000 open parentheses 1 plus fraction numerator straight r over denominator 4 cross times 100 end fraction close parentheses to the power of 15 over 4 end exponent
Solve it further to get the amount
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