nitesh took a loan of 10000 from a bank at 8% rate of interest compounded annually how much has he to pay at the end of 2 years to clear of his loan also find the interest he has to pay (11664,1664 ans please step by step explanation)
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Step-by-step explanation:
principal = 10000
rate =8%
time =2
SI = PRT/100
= 10000*8*2/100
= 100*8*2
= 1600
Amount = SI + Principal
= 10000+1600
=11600
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Answer:
alone 1000 form of BANK at 88% rate interest compounded annually has pay the end of 2 year the clear of his loan also find interest he has pe 111 lakh sixty six thousand four lakh and please step by step explain explain step by step 1000 is
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