Question

Mr. Akash needs Rs. 7,50,000 as loan for higher studies of his son. He wants to repay full
amount after 5 years. What will be the paid amount after 5 year if rate of Interest in
Cooperative Bank is 6% per annum compounded half yearly.
Also find the outstanding amount after 3 year if he repays Rs. 100000 at the end of each year
Where rate of interest is 6% Per annum compounded annually.

Answer 1

Step-by-step explanation:

Mr. Akash needs Rs. 7,50,000 as loan for higher studies of his son. He wants to repay full

amount after 5 years. What will be the paid amount after 5 year if rate of Interest in

Cooperative Bank is 6% per annum compounded half yearly.

Also find the outstanding amount after 3 year if he repays Rs. 100000 at the end of each year

Where rate of interest is 6% Per annum compounded annually.