Question

The value of car is Rs 850000 ,rate of premium is 5.5% for five years .Find total amount of premium , if depreciated 12% yearly.

Answer 1

Total amount of premium for 5.5% is Rs 1083750 and the amount of premium for 12% is Rs 1360000.

Step-by-step explanation:

Given:

Principal amount = Rs 850000

Rate of interest = 5.5%

Time period = 5 years

                 Simple interest = $\frac{P \times R \times T}{100}$

                 ⇒ SI = 8500 x 5.5 x 5

                  ⇒ SI = Rs 233750

    Amount = 233750 + 850000 = Rs 1083750

    SI for 12% interest = $\frac{P \times R \times T}{100}$

                          ⇒ SI = 8500 x 12 x 5

                           ⇒ SI = Rs 510000

               Amount = 850000 + 510000 = Rs 1360000

Answer 2

Answer:

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