Question

(a) A man borrowed 15,000 for 2 years. The rate of interest for the two successive years
are 8% and 10% respectively. If he repays * 6,200 at the end of first year, find the
outstanding amount at the end of the second year.​

Answer 1

Answer:

rs.11000

Step-by-step explanation:

for 1st year interest=(15000×8×1)/100=1200

for 2nd year principal=(15000+1200)-6200

=16200-6200

=10000

for 2nd year interest=(10000×10×1)/100

=1000

total amount outstanding=10000+1000

=11000