1. Calculate the C.I on a Loan of Rs.80,000 at 10.5% p.a for 2 Years.
PLEASE TELL THE ANSWER I HAVE EXAM ON MONDAY
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Step-by-step explanation:
Principle= 80000
Rate=10.5%
Time= 1 year
I¹= P*R*T/100
I¹= 80000*10.5*1/100 = 8400
A¹= P¹+I¹ = 80000+8400 = 88400
P²= 88400
R= 10.5%
T= 1 year
I²= P*R*T/100 = 9282
A²= P²+I² = 97682
CI= A²-P¹ = 97682- 80000
thus, CI = 17682/- ANS
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