28,000 to the bank after 10 years. How muchA farmer takes ? 10,000 as – InterviewSolution

1.

28,000 to the bank after 10 years. How muchA farmer takes ? 10,000 as loan from a bank and pays backinterest did the farmer have to pay to the bank?

Answer»

28000 = 10000(1+ r x 10/100)2.8 = 1 + r/101.8 = r/10r = 18%

the bank gave an interest of Rupes 500 on deposit

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