CBSE Class 7 Answered
nidhi borrowed 100000 for 3 years at the rate of 5 % pa as an eduction loan,after 3 years she paid the interest money and kept the remining money again for 3 years for higher eduction at the same rate. find the amount she has to return after 3 years.
Asked by ashsim2003 | 08 Jan, 2019, 11:15: PM
Expert Answer
Intrest is paid for first 3 years. Hence at the end of 6th year only 3 years intrest has to be paid along with principal
Total amount A to be paid = P([ 1 + (r/100) ]n = 100000 [ 1+(5/100) ]3 = 100000×(1.05)3 = Rs. 1,15,762.50
Answered by Thiyagarajan K | 09 Jan, 2019, 09:34: PM
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