Question

A man borrowed 6ooo from a money lender to pay 2000 per year with the interest charged at 10% per annum find
a)the interest he paid at the end of the first year

b)the total amount he paid at the end of the first year

c)the principal for the second year

d)the interest he paid for the second year

e)the principal for the third year

f)the amount he paid at the end of the third year

Answer 1

a)   2000* 10%=2000*10÷100=200  ans 200

b)    2000

c)      2000

d)   200

e)  2000

f) 2200