Ajay has purchased a second-hand car by taking a loan of Rs. 5000 from the bank at a rate of interest of 8% for 4 years. Calculate the total amount he will be paying to the bank on a loan of Rs. 5000 at the end of 4 years
A. Rs. 6820
B. Rs. 6820.44
C. Rs. 6800.44
D. Rs. 6802.44
Answer:D
Ajay has purchased a second-hand car by taking a loan of Rs. 5000 from the bank at a rate of interest of 8% for 4 years. Calculate the total amount he will be paying to the bank on a loan of Rs. 5000 at the end of 4 years
A. Rs. 6820 B. Rs. 6820.44 C. Rs. 6800.44 D. Rs. 6802.44