if the bank increases the interest on home loans from 6% to 7% then a home loan of Rs 1,00,000 for 3yrs becomes expensive by ?

• interest of banks are result of compounding. So by applying CI=P*(1+r/100)^n we get
  Ans: 34027
  explain:
  1,00,000[ (1+7/100)^3 - (1+6/100)^3] = 34027
• 8 years agoHelpfull: Yes(1) No(0)
• ans 3,000
  1,00,000(1+3*7/100) - 1,00,000(1+3*6/100)
  21000-18000=3000
• 9 years agoHelpfull: Yes(0) No(2)