Question

Amit 100 housing loan of 2 50 000
from a bank at 10 pcpa for 5 years What
the yearly interest he must pay
and the total amount he must return to bank​

Answer 1

Answer:

Step-by-step explanation:P=250000

R=10%PA

T=5YEARS

YEARLY AMOUNT =P(1+R/100)T

=250000(1+10/100)5

=250000(110/100)5

=250000×110×110×110×110×110/100×100×100×100×100

=400000 (approximate)