Radha took a loan of Rs 20,000 at 6% simple interest per annum for 5 years from a co-operative bank. After 3 years she returned Rs 12,000 of the principal amount to the bank. What sum will she be paying at the end of 5 years?
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Answer:
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Step-by-step explanation:
Total money will be = amount + the Interest in 5 years.
SI = PRT/100
= 20000x6x5 / 100
= 6000
Total money she'd be paying = 20000+6000
= 26000
Answered by
1
Interest on Rs 20,000 for 3 years = Rs 3600
After 3 years, She gave back Rs 12,000
So, the principal for the remaining 2 years
= 20000 - 12000 = Rs 8000
So, the interest on Rs 8000 for the remaining 2 years = Rs 960
Hence, the amount she will be paying
= 8960 + 3600
= Rs 12560
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