Question

16. Peter borrows 12,000 for 2 years at 10%
p.a. compound interest. He repays ? 8,000 a
the end of first year. Find:
(1) the amount at the end of first year, before
making the repayment
(ii) the amount at the end of first year, after
making the repayment.
(iii) the principal for the second year.
(iv) the amount to be paid at the end of
second year, to clear the account.​

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uday2006

29.09.2019

Math

Secondary School

+5 pts

Answered

16. Peter borrows $ 12,000 for 2 years at 10%

p.a. compound interest. He repays * 8,000 at

the end of first year. Find :

(i) the amount at the end of first year, before

making the repayment.

(ii) the amount at the end of first year, after

making the repayment.

(iii) the principal for the second year.

(iv) the amount to be paid at the end of

second year, to clear the account.

1

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darshit1899

darshit1899 Ambitious

Given principal for the first year = Rs 12000 Amount after 2 years = Rs 12730.80 Hence n = 2, let rate of interest = R% (1) Interest at the end of 1st year, Principal in the beginning of 2nd year = P + I = Rs 12000 + Rs 360 = Rs 12360 (2) Compound interest on the sum of 3 years Hence compound interest on the sum of three years = Rs 13112.70 – Rs 12000 = Rs 1112.70

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