Question

Adil borrowed ₹2,00,000 from his friend at 8% p.a for 1 year and 8 months. Find

the amount to be paid if it is compounded annually.

Answer 1

228,000

Explanation:

I = PRT / 100

I = Interest

P = principle = 200,000

T = time = 1.75 yr

R= rate = 8

I = (200,000 * 8 * 1.75 ) / 100

I = 28,000

Amount to be paid = 228,000

Answer 2

228,000

Explanation:

I = PRT / 100

• I = Interest
• P = principle = 200,000
• T = time = 1.75 yr
• R= rate = 8

I = (200,000 * 8 * 1.75 ) / 100

I = 28,000

Amount to be paid = 228,000