1. How much simple interest is to be paid on a loan of
56,500 at 10.5% p.a. after 3 years?
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Answer:
simple interest: p×r×t/100
=56500×10.5×3 /100
17797.5
Total money payed after simple interest
= 56500+17797.5
= 74297.5
Hope it helpsss....
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