Ravi purchased a house from DDA on credit. HI if the cost of the house is 7,50,000 charges interest at 6% per annum compounded annually find the interest paid by Ravi if you make payment to DDA after 3 years.
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Amount =p[(1+r/100)^n-1]
=7,50,000[(100+6/100)^3-1]
=7,50,000[(106/100)^3-1]
=7,50,000(106/100×106/100×106/100-1)
=7,50,000(1191016-1000000/1000000)
=7,50,000×191016/1000000
=143262 ans
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