A person took a loan of Rs 60000 from a bank at 6% simple interest p.a. After 3 years he refunded Rs 30000 to the bank. If after 2 years more he wanted to refund the remaining balance with interest then what amout of money would he have to pay?
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Answer:
60000( 1+ 3% × 3years) = 65400
65400 - 30000 = 25400
25400 (1 + 3% × 2years) = 26924