Harsha borrows $R s 5000$ to purchase a sewing machine from "Women Saving Bank" at $5 %$ rate of compound interest, so at the end of $3$ years how much amount will she pay

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Solution

$P = R s . 5000$

Rate of interest $= 5 %$

Time period $= 3 years$

$A = ?$

As we know that,

$A = P {(1 + \frac{R}{100})}^{n}$

$∴ A = 5000 {(1 + \frac{5}{100})}^{3}$

$\Rightarrow A = 5000 \times {(\frac{21}{20})}^{3}$

$\Rightarrow A = 5788.125$

Hence Harsha will have to pay $R s . 5788.125$ .

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Harsha borrows Rs 5000 to purchase a sewing machine from "Women Saving Bank" at 5% rate of compound interest, so at the end of 3 years how much amount will she pay

P=Rs.5000Rate of interest =5%Time period =3 yearsA=?As we know that,A=P(1+R100)n∴A=5000(1+5100)3⇒A=5000×(2120)3⇒A=5788.125Hence Harsha will have to pay Rs.5788.125.

Harsha borrows $R s 5000$ to purchase a sewing machine from "Women Saving Bank" at $5 %$ rate of compound interest, so at the end of $3$ years how much amount will she pay