Varun took a loan of 25000 rupees from a bank which charges 10 percentage interest compounded annually. After one year he repaid 10000 rupees. How much should he repay to close the loan after one more year?
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Answer:
17500 rupees
Step-by-step explanation:
P=25000
R=10%
T=1 year
A=25000(1+10/100)¹ = 25000×(11/10) = 27500
he repays 10000
so, A=27500-10000=17500 rupees
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