Rohan took loan from Bank of Baroda for his 2 year course of MBA. He took loan of Rs. 12 lakhs
such that he would be charged at 8% o per annum at compound interest during his cover and at 10%
compound interest after the completion of course. He returned half of the amount which he had to
be paid on the completion of his studies and remaining after 2 year. What is the total amount
returned by Rohan?
1499678
O
1500234
O
1469664
1399786
Answers
Answered by
0
Answer: 1546646
Step-by-step explanation: Amount returned on the completion of course = 12,00,000 × (1.08)2 = 13,99,680
Half returned after completion of two years = 6,99,840
Amount returned after two year of completion of course = 6,99,840 × (1.10)2 = 8,46,806
Total amount returned = 6,99,840 + 8,46,806 = 15,46,646
Similar questions