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Find the amount of a loan of Rs 6000 at 4% per year and for 5 years |
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Answer» 4155Step-by-step EXPLANATION:P=6000 per month , R=5% After 1 year INTEREST= 100 PRT = 100 6000×5×1 =300 New principle will be 6000+300=6300 but Rs 1200 was repaid ⟹P ′ =6300−1200=5100 After 2 YEARS Interest= 100 P ′ RT = 100 5100×5×1 =255 Principle for 3 rd year =5100+255=5355 but again Rs 1200 was repaid ∴ Outstanding =5355−1200 =4155 |
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