Answer:

• Sheila will need to pay 37,625 to clear the loan. In this case, the interest is compounded yearly, so n = 1. Therefore, Sheila will need to pay 37,625 to clear the loan. I hope this helps!

Step-by-step explanation:

hope it helps u my dear

Verified answer

• First we will calculate the compound interest for 2 years

[tex]A = (1 + \frac{R}{100} ) {}^{n} \\ \\ = 30,000 (1 + \frac{15}{100} ) {}^{2} \\ \\ = 30,000( \frac{115}{100} ) {}^{2} \\ \\ = \frac{39,67,50,000}{10,000} \\ \\ = 39,675[/tex]

• Taking this amount as principal, now we will calculate simple interest on ₹ 39,675 for

[tex]Here \: T = 4 \: months \\ \\ = \frac{4}{12} \: years \\ \\ = \frac{1}{3} \: years[/tex]

[tex]SI = 39,675 \times \frac{15}{100} \times \frac{1}{4} \\ \\ = 39,675 \times \frac{15}{400} \\ \\ = \frac{5,95,125}{400} \\ \\ = 1,487.81[/tex]

• Therefore, total amount to be paid in order to clear the loan is

[tex] = ₹ 39,675 +₹ \: 1,487.81 \\ \\ = ₹ \: 41,162.81 \: [/tex]