Payal took loan of Rs. 12,000 for parlour from a nationalized bank. How
much amount she will repay after 2 years 6 months at annual rate of 8%
When interest is accumulated annually.
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principal=12000, rate of interest=8%p.a , time=2 years and 6months
we know that
S.I=P×R×T/100
=12000×5×2/100×2
=Rs.600
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