Question

11 A man borrows 36000 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?​

Answer 1

Answer:

Rs. 3158.4

Step-by-step explanation:

A = P ( 1 + R /100) t

A = 36000 ( 1 + 12 / 100 ) 2

A = 36000 (112/100)2

A = 36000 * 112/100 * 112/100

A = 45158.4

CI = A - P

CI = 45158.4 -36000

CI = 9158.4

so at the end of each year he pays 3000

So in 2 year he pays 6000

so CI - Amount to pe paid

9158.4 - 6000

Rs 3158.4