Pratibha borrows Rs.47000 from a finance company to buy her first car. The rate of simple interest is 17% and she borrows the money over a 5 year period. Find : (a) How much amount Pratibha should repay the finance company at the end of 5 years. (b) Her equal monthly repayments?
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Answered by
3
Answer:
a.) Rs. 86950
b.) Rs. 5,217,000
Step-by-step explanation:
Pratibha borrows Rs47000 form finance company to buy her first car
so the principal will be =47000
simple interest =17%
time for which money is borrowed =5 years
Simple Interest=
100
principal * time * rate / 100
=47000×5×17
=39950
The amount of money Pratibha will repay the finance company at the end of five years will be
=(47000+39950)
=Rs.86950
Rs 86950 * 12*5
= 86950*60
= Rs. 5,217,000
Answered by
0
Answer:
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