Question

Ravi takes a loan of ₹30000 at 10% of annum. Find the interest he has to pay at the end of 1 year.
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Answer 1

Answer:

he has to pay 3000rs

Step-by-step explanation:

you have to use the simple formula of Finding interest which is PxRxt/100 so it will be 30000x10x1/100 which will come 3000 I hope it may have helped you ☺️

Answer 2

Step-by-step explanation:

Here, V=Rs.30000,r=12%=0.12 and n=20.

We know V=

r

A

[1−(1+r)

−n

]

Thus 30000=

0.12

A

[1−(1+0.12)

−20

]

⇒ A=

[1−(1+0.12)

−20

]

30000×0.12

⇒ A=

[1−(1.12)

−20

]

3600

⇒ A= Rs. 4016.76