A bank is planning to offer a unique product to its customers whereby it would pay RS. 250,000 per annum comencing from the wnd of year 6. Hiw much amount should the bank ask its customers to pay now if the rate of interest the bank pay is 5 % compounded annualy(step by step solution
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Answer:
75,00
Step-by-step explanation:
simple intrest =principal*rate of interest*time/100
=2,50,000*6*5/100=75,000
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