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If a man borrowed Rs 30,000, find he compound interest of the amount borrowed at rate of 2.5% per month per rupee for 3 months.

If a man borrowed Rs 30,000, find he compound interest of the amount borrowed at rate of 2.5% per month per rupee for 3 months.

Grade:10

1 Answers

Saurabh Koranglekar
askIITians Faculty 10341 Points
one year ago
Dear student

3 months
n =3
p=30000
r=2.5

the compounding time is not mentioned considering annually

The compound interest is₹2,033.70

Regards

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