Q3 of 13 Page 90

To start a business Shalaka has taken a loan of ₹ 8000 at a rate of p.c.p.a. After two years how much compound interest will she have to pay?

Principal = 8000/-, Rate = 10.5% (p.c.p.a), Duration (n) = 2 years



2


A = 8000 (1+0.105)2


A = 8000 (1.105)2


A = 8000 (1.221025)


∴ A = 9768.2/-


∵ C.I. = A - P


∴ C.I. = 9768.2 - 8000


C.I. = 1768.2/-


∴ Shalaka has to pay a compound interest of 1768.2/- .


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