Question

A man took a loan of Rs 40,000. If the rate of compound interest is 5 paisa per rupee per year, in how many years will the compound interest be Rs 6,305?​

Answer 1

Answer:

Given,

Rate =

100

5

×100=5%

S.I.=

100

PRT

=

100

4500×5×2

=450Rs.

A=P+SI=4500+450=4950 Rs.

Step-by-step explanation:

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