Shubhalaxmi took a loan of INR 18000 from Surya Finance to purchase a TV set. If the company charges compound interest at $12 %$ per annum during the first year and $12 \frac{1}{2} %$ per annum during the second year, how much will she have to pay after 2 years ?

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Solution

For $r = 12 %$ , $P = R s .18000$
$A = 18000 (1 + \frac{12}{100})^{1} = R s .20, 160$
For $r = 12.5 %$ , $P = R s .20, 160$
$A = 20000 (1 + \frac{12.5}{100})^{1} = R s .20, 160 = R s . 22, 680$

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Shubhalaxmi took a loan of INR 18000 from Surya Finance to purchase a TV set. If the company charges compound interest at 12% per annum during the first year and 1212% per annum during the second year, how much will she have to pay after 2 years ?

For r=12%, P=Rs.18000A=18000(1+12100)1=Rs.20,160For r=12.5%, P=Rs.20,160A=20000(1+12.5100)1=Rs.20,160=Rs.22,680

Shubhalaxmi took a loan of INR 18000 from Surya Finance to purchase a TV set. If the company charges compound interest at $12 %$ per annum during the first year and $12 \frac{1}{2} %$ per annum during the second year, how much will she have to pay after 2 years ?

For $r = 12 %$ , $P = R s .18000$
$A = 18000 (1 + \frac{12}{100})^{1} = R s .20, 160$
For $r = 12.5 %$ , $P = R s .20, 160$
$A = 20000 (1 + \frac{12.5}{100})^{1} = R s .20, 160 = R s . 22, 680$