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2014-08-24T11:22:50+05:30

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Interest after 1 year : Rs 8,000 * 10% = Rs 800

Repayment = Rs 1,500 
      interest is fully paid and principal is reduced by Rs 700  to Rs7,300

Interest after 2nd year : Rs 7,300 * 10% = Rs 730
   Repayment = Rs 1,500
     Interest is fully paid and  principal is reduced by Rs 770 to Rs 6,530

Interest after 3rd year : Rs 6,530 : Rs 653
     Repayment : Rs 1,500
           Outstanding :  Rs 6,530 - (1,500 - 653) = Rs 5,683

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