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


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