Mathematics · Simple Interest and Financial Calculations
Calculate the total amount a borrower must pay to settle their loan account if the principal amount is ₹50,00,000, simple interest is charged at 12% per annum for 2 years, and the bank has additionally incurred legal expenses of ₹45,000 for SARFAESI proceedings and ₹25,000 for a valuer's fee.
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1₹63,40,000
- 2₹50,70,000
- 3₹62,00,000
- 4₹62,70,000✓
Correct answer
₹62,70,000
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