Question

a man borrowed 15000 for 2 years. the rates of interest for successive years being 4% and 6%. he repays a part of the loan at the end of first year and cleared the debt at the end of second year. if the amounts of first year and second year are same. calculate the sum paid at the end of first year​

Answer 1

Step-by-step explanation:

15000x4x2÷100=1200

amount:1200+15000=16200

Answer 2

The sum paid at the end of first year​

= 8027.18 Rs.

Given:

A man borrowed 15000 for 2 years. the rates of interest for successive years being 4% and 6%.

The amounts of first year and second year are same.

To find:

The sum paid at the end of first year​.

Explanation:

Interest for 1st year = 4%

So total sum for first year = 15000 + $\frac{4}{100}$ ×15000

                                          = 15600 RS

He paid "X" Rs. in first year so remaining amount = 15600-X

Rate of interest foe second year = 6% for the amount (15600-X)Rs

Total sum for second year = 1.06×(15600-X)

The amounts of first year and second year are same.

That is,       X = 1.06×(15600-X)

                  X = 16536 - 1.06 X

                 X +1.06X = 16536

                          X = 8027.18 Rs.

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