ram borrowed a sum of RS.9000 from an agricultural development bank at the rate of 12.5% how much amount should he pay to clear the debt after 5 years?
step by step calculation pls guys help!
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P= Rs 9000, R= 12.5%, T= 5 yrs
Simple interest = P*R*T/100 = 45000*125/1000
SI = Rs 5625
Amount to be paid = Principal + SI = 14625 Rs
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