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Hari took an educational loan from a nationalized bank for his 2 years course of MBA. He took the loan of Rs.5 lakh such that he would be charged at 7% p.a. at CI during his course and at 9% CI after the completion of the course. He returned half of the amount which he had to be paid on the completion of his studies and remaining after 2 years. What is the total amount returned by Hari?
Rs. 626255
Rs. 626277
Rs. 616266
Rs. 626288
5,00,000 * (1.07)2 = 572450 Returned amount = 286225 After two years = 286225 * (1.09)2 = 340063 Total amount = 286225 + 340063 = 626288
By: Pranav Gupta ProfileResourcesReport error
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