Question

A loan of $8000 was paid back in 2 years in monthly payments of $4000. The percentage profit on the loan was

Answer 1

total money paid in 2 yrs= (4000×24)

=96000$

profit = sp - cp

=16000

profit percent=(profit/cp)×100

=16000/80000)×100

=20%

Step-by-step explanation:

yor answer

Answer 2

Answer:

20%

Step-by-step explanation:

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