Question

17 Mr. Dubey borrows 100000 from State Bank of India at 11% per annum compound
interest. He repays 41000 at the end of first year and 47700 at the end of second
year. Find the amount outstanding at the beginning of the third year.​

Answer 1

Answer:

rs.3000

Step-by-step explanation:

the ans is shown in the attachment.

Answer 2

It is given that

Borrowed money (P) = ₹ 100000

Rate = 11% p.a.

Time = 1 year

We know that

Amount after first year = Prt/100

Substituting the values

= (100000 × 11 × 1)/ 100

By further calculation

= 100000 + 11000

= ₹ 111000

Amount paid at the end of first year = ₹ 41000

So the principal for second year = 111000 – 41000

= ₹ 70000

We know that

Amount after second year = P + (70000 × 11)/ 100

By further calculation

= 70000 + 700

= ₹ 77700

So the amount paid at the end of second year = ₹ 47700

Here the amount outstanding at the beginning year = 77700 – 47700

= ₹ 30000

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