A man borrowed 16,000 for 3 years under
the following terms:
20% simple interest for the first 2 years.
20% C.I. for the remaining one year on the
amount due after 2 years, the interest being
compounded half-yearly.
Find the total amount to be paid at the end
of three years.
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Answer:
simple interest
16000×3×20/100
9600
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