Question

5. A man borrowed 3,00,000 from a bank to buy a tractor. Find the amount he would pay after 3 years
6 months at 15% per annum.
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Answer 1

Step-by-step explanation:

P= 80000

R = 10 % ‘

after first year amount = 88000

10 % rate compounded annually

If we paid 55000 at the end of the 2nd year it means we paid 110 % of amount left after paid certain from the 1st year . C.I always calculated on previous year amount

= \frac{55000}{110} \times 100 = 50000

So that certain amount is paid after first year then the remaining amount is equal to 50000.

i.e the certain amount paid after 1st year is equal to the = 88000 -50000= 38000

Answer 2

Answer:

answer is 38000

Step-by-step explanation:

hope it helps you