Anand obtained a loan of $R s . 125000$ from the Allahabad Bank for buying commercial bank charges compound interest at $8 %$ per annum, compounded annually. How much should he pay after $3$ yrs

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Solution

Principal $= R s .125000$
Rate of interest $= 8 % p . a$
Time $= 3 y e a r s$
The amount,
$A = P (1 + \frac{R}{100})^{n}$
$= 125000 {(1 + \frac{8}{100})}^{3}$
$= 125000 \times {(1.08)}^{3}$
$= 157464$
$∴$ Anand have to pay $R s .$ $157464$ after $3 y e a r s$ to clean the debt.

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Anand obtained a loan of Rs.125000 from the Allahabad Bank for buying commercial bank charges compound interest at 8% per annum, compounded annually. How much should he pay after 3 yrs

Principal =Rs.125000Rate of interest =8% p.aTime =3 yearsThe amount,A=P(1+R100)n =125000(1+8100)3 =125000×(1.08)3 =157464∴ Anand have to pay Rs. 157464 after 3 years to clean the debt.

Anand obtained a loan of $R s . 125000$ from the Allahabad Bank for buying commercial bank charges compound interest at $8 %$ per annum, compounded annually. How much should he pay after $3$ yrs

Principal $= R s .125000$
Rate of interest $= 8 % p . a$
Time $= 3 y e a r s$
The amount,
$A = P (1 + \frac{R}{100})^{n}$
$= 125000 {(1 + \frac{8}{100})}^{3}$
$= 125000 \times {(1.08)}^{3}$
$= 157464$
$∴$ Anand have to pay $R s .$ $157464$ after $3 y e a r s$ to clean the debt.