Mr Shahzeb borrows $48 000 from a bank that charges simple interest at a rate of 6% per annum. Find the total amount he has to pay the bank at the end of 2 years.
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0
Answer:
$50880
Step-by-step explanation:
required amount =106%*48000
=$50880
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2
53760 $ as simple interest formula is Principal x Time x rate of interest /100. Therefore 48,000 + 6 x 2 x 48,000/100
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