Jethalal took a housing loan of 250,000 form a bank at 10 p.c.p.a for 5 years. What is the yearly interest he must
pay and the total amount he returns to the bank?
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Jethalal took a housing loan of 250,000 form a bank at 10 p.c.p.a for 5 years. What is the yearly interest he must
pay and the total amount he returns to the bank?
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[tex]\huge\tt\red{\underline{Answer}}[/tex]
Principal= 250000
Rate= 10 p.c.p.a
No. of Years= 5 Years
[tex] \large\sf\red{\underline{Simple \: Interest}}=\small\tt\frac{Principal \times Rate \times No. of \: Interest}{100} \\ = \small\tt\frac{250000 \times 10 \times 5}{100} \\ = \small\tt\frac{2500 \times 10 \times 5}{1} \\ = \small\tt{\underline{125000}}[/tex]
[tex] \large\sf\red{\underline{Amount}}= \small\tt{Principal+SI} \\ = \small\tt{250000 + 125000} \\ = \small\tt{\underline{375000}}[/tex]
The yearly Interest Jethalal has to give is 1,25,000 and he have to give 3,75,000 as the total amount..