A man borrows ₹10000 at 10% compound intrest yearly .At the end of each years ,he pays back 30% of the sum borrowed .How much money is left unpaid just after the second year?
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FOR FIRST YEAR,
P=10000, R=10%, T=1yr
-> I=10000?10?1/100 =1000
-> A=P+I =10000+1000= 11000
-> Since he pays 20% of amount every year,
20/100 ? 11000= 2200
Total amount payed = 11000-2200= 8800
FOR SECOND YEAR,
P=8800, R= 10%, T= 1yr
-> I= 8800?10?1/100 = 880
-> A= P+I =8800+880 = 9680
-> Since he pays 20% of amount again,
20/100 ? 9680= 1936
Total amount payed = 9680-1936 = 7744
Therefore the loan outstanding with him is of 7744
Hope this answer helps you!
P=10000, R=10%, T=1yr
-> I=10000?10?1/100 =1000
-> A=P+I =10000+1000= 11000
-> Since he pays 20% of amount every year,
20/100 ? 11000= 2200
Total amount payed = 11000-2200= 8800
FOR SECOND YEAR,
P=8800, R= 10%, T= 1yr
-> I= 8800?10?1/100 = 880
-> A= P+I =8800+880 = 9680
-> Since he pays 20% of amount again,
20/100 ? 9680= 1936
Total amount payed = 9680-1936 = 7744
Therefore the loan outstanding with him is of 7744
Hope this answer helps you!
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