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Kamala borrowed Rs 26,400 from a Bank to...

Kamala borrowed Rs `26,400` from a Bank to buy a scooter at a rate of `15%` p.a. compounded yearly. What amount will she pay at the end of 2 years and 4 months to clear the loan? (Hint: Find A for 2 years with interest is compounded yearly and then find SI on the 2nd year amount for `4/12` years).

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AI Generated Solution

To solve the problem step by step, we will follow the hints provided in the question. ### Step 1: Identify the given values - Principal (P) = Rs 26,400 - Rate of interest (R) = 15% per annum - Time (T) = 2 years and 4 months ### Step 2: Convert the time into years ...
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