Question

A farmer takes a loan of ₹45000 at 15% per annum to instal a pump in his field . he pays back 15000₹ to the bank along with the interest due at the end of first year . At the end of second year he pays back the balance to the bank. how much does the farmar pay the bank at the end of second year?

Answer 1

I think the answer is Rs.43,500