Ramarao purchased a new tractor for his farm by taking a laon for 6 years.indentify and explain the concepts from the given illustration.
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If the tractor cost's ₹700000(7 lakh) at 5% annual rate for 6 years then
EMI will be 11,273.46
Total Payment 811,688.61
Total Interest 111,688
Total Principal 700000
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