ECONOMICS
COMPOUND INTEREST
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Gordo borrows 12000 at an interest rate of 9% for 9 years compounded annually. What is the total amount he must repay?
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26062.72
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972
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26062.71
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2606.27
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Explanation:
Detailed explanation-1: -Hence, the compound interest is Rs. 2, 520.
Detailed explanation-2: -Ab Padhai karo bina ads ke Solution : p=12000Rs<br> r=12<br> n=10<br> ‘A=P(1+r/100)^n‘<br> ‘A=12000(1+12/100)^10‘<br> ‘A=12000(1.12)^10‘<br> taking log both side<br> ‘logA=log12000+10log1.
Detailed explanation-3: -Q. The formula to calculate the amount when principal is compounded annually is given by A=P×(1+R100)n. Q. By using the formula, find the amount and compound interest on: In how many years will Rs 1800 amount to Rs 2178 at 10% per annum when compounded annually ?
There is 1 question to complete.