Q. Mr X,a very industrious person ,wants to establish his own unit.For this he needs an instant loan of Rs 5,00,000 and,every five years he requires an additional loan of Rs. 100,000.If he had to clear all his outstandings in 20 yrs,and he repays the principal of the first loan equally over the 20 yrs,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)5,60,000
B) 5,40,000
C) 5,50,000
D) 5,00,000
A)5,60,000
B) 5,40,000
C) 5,50,000
D) 5,00,000
