dllA farmer takes 10,000 as loan from a bank and pays back 7 28,000to – InterviewSolution

1.	dllA farmer takes 10,000 as loan from a bank and pays back 7 28,000to the bank after 10 years. Hinterest did the farmer have to pay to the bank?Dohini taken from
Answer» 28000 = 10000(1+ r x 10/100)2.8 = 1 + r/101.8 = r/10r = 18%

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