https://file.aiquickdraw.com/mathbot/file/172941900909831739g8z.jpg

The problem in the image asks for the total amount of money Madhu needs to repay after borrowing ₹24,000 for 2 years at a compound interest rate of 10% per annum, compounded annually. Let's solve this step by step.

### Formula for Compound Interest:
The compound interest formula is:
\[
A = P \left( 1 + \frac{r}{100} \right)^n
\]
Where:
- \(A\) = the total amount (principal + interest)
- \(P\) = the principal amount (₹24,000)
- \(r\) = the rate of interest per year (10%)
- \(n\) = the number of years (2)

### Step 1: Input the given values
\[
P = 24,000, \quad r = 10\%, \quad n = 2
\]

### Step 2: Apply the values into the formula
\[
A = 24,000 \left( 1 + \frac{10}{100} \right)^2
\]
\[
A = 24,000 \left( 1 + 0.1 \right)^2
\]
\[
A = 24,000 \times (1.1)^2
\]
\[
A = 24,000 \times 1.21
\]
\[
A = 29,040
\]

### Step 3: Conclusion
The total amount Madhu has to pay after 2 years is **₹29,040**.

Would you like more details or have any questions?

Here are 5 related questions to expand your understanding:
1. How would the total amount change if the interest were compounded semi-annually instead of annually?
2. What would be the amount if the rate of interest were 8% instead of 10%?
3. How can you calculate the compound interest alone, without the principal?
4. How would you compute the total amount for different durations, such as 3 or 4 years?
5. What is the difference between compound and simple interest for the same values?

**Tip:** Always double-check the compounding period (annually, semi-annually, etc.) when dealing with compound interest problems!

Madhu borrowed a sum of ₹24000 for 2 years at the rate of 10% p.a., interest compounded annually. Find how much money will she have to pay to clear her debt?

Learn how to calculate the total repayment amount when Madhu borrows ₹24,000 at a compound interest rate of 10% annually for 2 years. This step-by-step guide will show you the application of the compound interest formula to find out how much she needs to repay.

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