Question

Santi took a loan of 36,000 to buy an almirah at 5 % p.a. She repaid the loan after 4
years 6 months. How much interest did she pay?

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Answer 1

Step-by-step explanation:

principal = 36000

rate= 5%

time= 4.5 yrs

we will let that time will be 5yrs

1st yr c.i. = 1800

2nd = 1800+90

3rd. = 1800+90+90+4.5

4th. =1800+90+90+90+4.5+4.5+4.5

5th. =1800+90+90+90+90+4.5+4.5+4.5+4.5+4.5

(2182.5/12*6 =1091.25)

c.i.= 4*1800+6*90+4*4.5+1091.25

= 7200+540+18+1091.25

=8849.25