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QUESTION
Q
A man took some loan from a bank at the rate of 8% compound interest per annum and he repaid the whole amount of the loan...
Solution
Let, principal amount be = p
Amount to be paid at the end of the first year is = p(1 + 8/100)
= 1.08p
Amount paid at the end of first year is = Rs.50000
Amount to be paid at the end...
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