A man takes a loan of rs10000 at the rate of 6% simple interest with the understanding that it will be repaid with interest in 20 equal annual instalments at the end of every year how much he has to pay in each instalment?
Answers
Answered by
1
Answer:
rs 550
Step-by-step explanation:
you first get the interest which you get by using PRT/100 .you will get the interest to be rs 1000 and then add to the loan to get rs11000 and then divide by 20 to get the amount of each installment
Answered by
3
Herev is your solution.
Attachments:
Similar questions