Milind took a housing loan of 1,50,000 rupees from bank at 10.p.c.p.a for 5 years. What is yearly "interest he must pay and the total amount he returns to the bank?
Answers
Answered by
1
p=150000
r = 10%
n = 5years
A = p(1+r)ⁿ
= 150000(1+10%)⁵
= 150000×1.1⁵ = 241576.5
ci = A-P = 91576.5/-
Similar questions