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Total amount to be paid by Sunita at the end of one year = Rs.50000 + Rs. 7500 =
Rs.57500.
Interest for multiple years
If we have to calculate the interest for more than one year then we have to change the
time period only.
Example
In the above example if Sunita takes the loan for 3 years then what will be the total
amount after 3 years?
Total amount to be paid by Sunita at the end of 3 years = Rs.50000 + Rs. 22500 =
Rs.72500.
