Question 2: Like if the principal amt is 10 lakhs and the rate of interest is 6% per year and the duration the duration for which loan is taken is 3 years then what is the total amt we have to recover from the customer
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Step-by-step explanation:
amount that we have to recover from customer
= 10,00000 ( 1 + 6/100)^3
= 10,00000 × (1.06)^3
== 1 × 106 × 106 × 106 = 1191016
R.amount= Rs 1191016 Answer
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