Question

due to fall in rate of interest from 12 % to 10% per annum in 4 years home loan amount of a person decreases by 4800 find the home loan​

Answer 1

Answer:

Rs.60000

Step-by-step explanation:

there is 2% decrease in interest .....ie from 12% to 10%

product of (2% decrease per annum * 4 years) = rs.4800

ie 2%*4 = 4800

therefore 8%=4800

to get the loan amount ...we need to find what is 100%

therefore total amount = (4800*100)/8