Manish took a housing loan of 5,00,000 rupees form as bank at 10% p.c.p.a. for 5 years. What is the yearly intrest he must pay and the total amount he returns to the bank ? ans
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15% and 20% per year respectivelyin 3 years, at compound interest, if the rates for successive years are 12%, 15% and 20% per year respectively?
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ANSWER
A=9000×(1+
100
12
)(1+
100
15
)(1+
100
20
)
A=9000×
100
112
×
100
115
×
100
120
A=
100
112×115×12×9
A=13910.40Rs
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