Rishabh borrowed Rs 80,000 for 3 years. Find the rate of interest if he paid an interest of Rs 4800.
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Answered by
21
Answer:
P= 80000
R = 10 % ‘
after first year amount = 88000
10 % rate compounded annually
If we paid 55000 at the end of the 2nd year it means we paid 110 % of amount left after paid certain from the 1st year . C.I always calculated on previous year amount
= \frac{55000}{110} \times 100 = 50000
So that certain amount is paid after first year then the remaining amount is equal to 50000.
i.e the certain amount paid after 1st year is equal to the = 88000 -50000= 38000
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Answered by
3
Answer:
your answer is 2%rate p.a
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