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Payal took a loan of rs. 12000 for parlour from a nationalized bank. How much amount she will repay after 2 years 6 months at annual rate of 14%, if interest is calculated anually.
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12000×14×2.5/100=4200
if interest charged is Si
As priciple=12000
Rate=14%
Time=2 year 6 months ie. 2.5 years
So Simple interest=PXRXT÷100
Answered by
0
Step-by-step explanation:
Loan=12000 , Time=2years 6months i.e 2.5,Rate for year=14%
fomula=PTR/100
=12000*2*2.5/100
Interest=600
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