40. A businessman borrowed Rs 50,000 from a bank at the rate of 12% per annum simple interest. After 3 years he deposited Rs 25000 in the bank. He decided to repay the total loan just after 5 years, then how much money he had less to pay to the bank?
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Step-by-step explanation:
It means he's paying 50000× 12% = 6000 per month as interest.
after 3 years he paid back Rs.25000/
now Only 25000 are left to pay.
He will now pay 25000×12 = 3000 per month as interest instead of 6000.
it means from now he has to pay 3000 only per month as interest
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