Cathy takes a loan of ₹14000 at 5.5% rate of interest per annum. Find the interest charged at the end of 4 years.
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which interest . simple, compound
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Cathy takes a loan of ₹14000 at 5.5% rate of interest per annum. Find the interest charged at the end of 4 years.
Answer
S.I = P *R *T /100
S.I = 14000* 55/10* 48/100
= 14000*11*24/100
= 3696
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