We borrowed $1000 at a 10% annual interest rate. If we did not make a payment for two years, and assuming there is no penalty for non payment, how much do we owe now
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Answer:
You owe the lender ₹1200.
Explanation:
R=10% , P=₹100 ,T=2 yrs
SI= PRT/100
= 1000*10*2/100
= 200
Total Amount = SI + P
= 1000+200=1200
I Hope it will help you. :-)
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