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Ramesh lent rupees 20000 to his friend at the rate of 8% per annum interest being compounded annually. How much money will he get back from his friend at the end of 2 years 9 months?

Asked by rk4742480 | 28 Jul, 2021, 04:22: PM

Expert Answer

straight P space equals space 20000 straight R equals 8 percent sign straight n space equals fraction numerator 24 plus 9 over denominator 12 end fraction equals 11 over 4 years straight A equals straight P open parentheses 1 plus straight R over 100 close parentheses to the power of straight n equals 20000 open parentheses 1 plus 8 over 100 close parentheses to the power of 11 over 4 end exponent Amount equals 24714.1298

Answered by Arun | 29 Jul, 2021, 08:38: AM

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