. Sameer gave a loan of 55,000 to Deepak for a period of one years at 16% per annum compounded
yearly. How much interest will Sameer earn?
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Step-by-step explanation:
55000×16×1/100 =8800is the answer
Answered by
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Answer:
interest = PRT/100=55000*16*1/100=550*16=₹8800
P=principle amount(in ₹)
R=rate of interest( in percentage)
T=time period(in years)
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