Question

. A man borrows 10,000 at 10% compound
interest compounded yearly. At the end of
each year, he pays back 20% of the amount
for that year. How much money is left unpaid
just after the second year?​

Answer 1

Answer:

At the end of 1st year debit balance will be 11,000.

After paying 3000, the balance is brought down to 8000.

The second year interest will be 800.

At the end of 2nd year the debit balance is 8800.

Step-by-step explanation:

Answer 2

Answer:

Step-by-step explanation:

For first year:

P= 10,000 R=10% T=1 year

Interest=PTR/100

=(10000 x 1 x 10)/100

=₹1000

Amount= P+ I

= 10000+1000

=₹11000

Repayment =20% of amt

=2200

For second year:

P=Amt- Repayment

=₹8800

Int=( 8800 x 1 x 10)/100

=₹880

Amount = 8800+880

=₹9680 Ans.