A company borrows 1000/- on condition to repay it C.I. at 5% p.a. by annual installments of 1000 each. The no. of years by which the debt will be clear is?
chetanapadol1234:
borrows amt wrong hai agar 1000 borrow kiya to 1st installment me pay ho jayega
plz check your que. repeat
yep.... my mistake its 10000/-
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Answer:
loan liability dr 1000
interest dr 50
bank cr 1050
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