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Ravi borrowed Rs.12000 at the rate of 12% per annum rate of compound interest, compounded annually. He repaid a certain amount at the end of the...
Solution
Principal = Rs.12000; r = 12%Loan amount at the end of the first year is= 12000(1.12) = Rs.13440Let, the amount repaid by Ravi at the end of the first year be...
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