Q6 . My x a very industrious person, wants to establish his own unit . For this he need an instant loan of rs 5,00,000 and every five year he requires an additional loan of Rs. 100,000. if he had to clear all his outstanding in 20 years and he repays the principal of the firs loan equally over the 20 years, find what amount he would have to pay as interest on his initial borrowing if the rate of interest is 10%p.a. simple interest
a. 560,000
b. 540,000
c. 525,000
d. 500,000
e. None of these
[spoiler]OA: c[/spoiler]
a. 560,000
b. 540,000
c. 525,000
d. 500,000
e. None of these
[spoiler]OA: c[/spoiler]
I'm no expert, just trying to work on my skills. If I've made any mistakes please bear with me.
