Question

A man borrowed ? 25.000 from a finance company at 20% per annum
amount of money will discharge his debeans in the
between compound interest and simple interest​

Answer 1

Answer:

give me brilliant answer plzz

Step-by-step explanation:

What would you like to ask?

MATHS

A man borrowed Rs.25000 from a bank at 20% compound interest. At the end of every year he paid 8000. At the end of the third year, he wanted to clear the loan. How much should he pay to clear the loan?

Share

Study later

ANSWER

Compound Interest is nothing but Simple interest per year with the amount at the end of every year being the principal for the next year.

For the first year ,

Simple Interest SI=

100

PNR

So, SI=

100

25000×1×20

=Rs5000

So, Amount A=25000+5000=Rs30000

For the second year ,

P =30000−8000=Rs22000

So, SI=

100

22000×1×20

=Rs4400

So, Amount A=22000+4400=Rs26400

For the third year ,

P =26400−8000=Rs18400

So, SI=

100

18400×1×20

=Rs3680

So, Amount A=18400+3680=Rs22080

So, Rs22080 has to paid off to clear the loan.

Answer 2

Answer:

here is your answer...........