For example, you have taken a
personal loan of Rs. 5 lakhs for
2 years at an interest of 20 %
p.a.
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Answer:
200,000 Rupees
Step-by-step explanation:
principle = 500000 rs
time = 2 years
rate of interest = 20%
interest = 500000×2×20
100
= 20000000/100
= 200000rs
* interest is 200000rs
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