1. A man borrows 26000 for 2 years at the rate of 12% p.a. compounded annually. He repays
*3000 at the end of each year. How much does he still owe after the second repayment?
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Answer:
Answer is 614.4 rupees.
Step-by-step explanation:
TAKING LCM
A=26000(112÷100)²
A=26000×28÷10×28÷10
A=32614.4 rupees
Amount repayed =3000rupees (given)
total amount he owe with him
=32614.4-3000
=614.4 rupees.
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