a farmer borrowed rupees 30,000 from a bank at 12% per annum simple interest. he repaid the principle amount along with interest after 4 years .find the total amount paid by thr farmer to bank.
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Answer:
Here, V=Rs.30000,r=12%=0.12 and n=20.
We know V=
r
A
[1−(1+r)
−n
]
Thus 30000=
0.12
A
[1−(1+0.12)
−20
]
⇒ A=
[1−(1+0.12)
−20
]
30000×0.12
⇒ A=
[1−(1.12)
−20
]
3600
⇒ A= Rs. 4016.76
Step-by-step explanation:
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