Question

22. A man borrows Rs 10,000 at a compound interest rate of
end of each year, find the sum outstanding at the end of the third year​

Answer 1

Answer:

Sum=Rs.10,000

Rate of interest=10%

Interest for one year=

100

10000×10×1

=Rs.1000

Total amount=10000+1000=Rs.11000

At the end of first year he pay =30% of 10000=

100

30

×10000=Rs.3000

Amount left=11000−3000=Rs.8000

∴ Interest for second year=

100

8000×1×10

=Rs.800

Total amount aftre 2 year=8000+800=Rs.8800

He pay again rs 3000 then the amount left=8800−3000=Rs.5800