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Sticky Note
Akbar borrowed 70,000 from a bank at 7% interest for 3 years. The amount of markup is?
  1. 16200
  2. 14700
  3. 15200
  4. None of these
Explanation

Calculating the Markup (Interest)

Interest = Principal × Rate × Time

= 70000 × 0.07 × 3

= 70000 × 0.21

= 14700

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