Ramu borrowed Rs. 15625 from a finance company to buy scooter. If the rate of interest be 16% per annum compounded annually, what payment will he have to make after 2years?
Given,
Principal = Rs.15625
Rate = 16% per annum
Time = 2- years
Amount =
= 15625
So,
Ramu has to make a payment of Rs.21866