Kamla borrowed ₹26400 from a Bank to buy a scooter at a rate of 15% p.a. compounded yearly. What amount will she pay at the end of 2 years and 4 months to clear the loan?
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Now, Simple Interest for 4 months will be calculated and Principal will be Rs. 34914. Hence, after 2 years and 4 months, Kamala will pay Rs. 36659.7 to clear the loan.
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