The value of motor car is RS 850000 and the rate of premium 5.5% for 5 years find the total amount of premium,if depreciated 12% yearly
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Step-by-step explanation:
Given
principle amount = ₹ 850000
rate of interest = ₹ 5.5%
time period = 5
SI = P×R×T/ 100
SI= 8500×5.5 ×5
= 233750
AMOUNT = 233750+850000 = 1083750
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