A company manufacturing plasma TV
borrowed Rs.10 crores from a finance company
for 10 years at 18% interest compounded
annually. What amount they will have pay
back to the finance company after 10 years.
(Given (1.18)' = 5.2338]
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1
Answer:
1,80,00,000
Explanationation :
Principle + Interest = Amount
10,00,00,000 + Interest = Amount
Interest = Principle × Time × Rate%
= 10,00,00,000 × 10 × 18/100
= 10,00,000 × 10 × 18
= 1,00,00,000 × 18
= ₹1,80,00,000
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