Sunil took an education loan for his mba today. he borrowed 40 lakh from the bank at a rate of interest of 30% per annum. the interest is compounded annually. how much money will sunil owe to the bank after two years?

The amount which Sunil own to the bank after two years is Rs 67 lakh and sixty thousand

Step-by-step explanation:

Given as :

The amount borrowed by Sunil for education loan = Rs 40 lakh

The rate of interest applied compounded annually  = 30%

The time period of loan is 2 years

Or,

Or,  

Or, Amount = 4000000 × ( 1.3 )²

Or, Amount =Rs 6,760,000

Hence The amount which Sunil own to the bank after two years is Rs 67 lakh and sixty thousand     Answer

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step-by-step explanation:

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step-by-step explanation: