Mr Shreshta borrowed rupees 2,000 from a bank at the rate of 4 % per year i need answer step by step process by process

Issei asked Nov 7, 2023

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39 votes

Mr Shreshta borrowed rupees 2,000 from a bank at the rate of 4 % per year

i need answer
step by step
process by process

Issei asked Nov 7, 2023

by Issei

2.5k points

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24 votes

Answer:

Rs. 480

Explanation:

Per month interest amount = 2000 x 0.02 = Rs.40

One total interest cost =Rs. 40 x 12 ( 12months i. e. 1 year)

= Rs. 480

Ferenc answered Nov 10, 2023

3.7k points

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