Question

Ramesh borrowed ₹ 3,00,000 from a bank to renovate his shop
for 2 years. If the rate of interest is 5% per year compounded
annually. Calculate the amount that Ramesh has to pay.

Answer 1

Answer:

30000

Step-by-step explanation:

Answer 2

Answer:

Rs.3,30,000

Step-by-step explanation:

we know that,

P×R×T/100

3,00,000×5×2/100 = 30,000

Now, 30,000- simple intrest

Amount he has to pay= [principal+simple intrest]

=3,00,000+30,000

=3,30,000

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