A man took loan of 56200 from a bank on 15 January, 2011 on interest at 20% pa. How much amount did he have to pay to the bank to settle the account on 23 August,2011? Calculate the amount to the nearest rupee.
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hi there fuzz rf hvhkpubpuc FYI I have to godfather the month, but I am not going out to be able
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Answer:
=62975
Total interest for 1 year =100/20×56200
=11240
total no. of days =16+28+31+30+30+30+30+23
=220
∴ Interest for 220days =36511240×220
=6774.79
6775
∴ total amount =56200+6775
=62975
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