Question

aishwarya took a loan of rs 90000 from a bank for 4 years. if she paid rs 9900 as interest, find the rate of interest, find the rate of interest charged by the bank per annum.

please explain me step by step
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Answer 1

Answer:

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Step-by-step explanation:

10000; Rate = 2% per half-year; Time = 2 years = 4 half-years. Amount == Rs. 10824.32

Answer 2

Step-by-step explanation:

Here, V=Rs.30000,r=12%=0.12 and n=20.

We know V=rA[1−(1+r)−n]

Thus 30000=0.12A[1−(1+0.12)−20]

⇒   A=[1−(1+0.12)−20]30000×0.12

⇒  A=[1−(1.12)−20]3600

⇒  A= Rs. 4016.76