Question

a man borrows ₹15000 at 12% per annum, compounded annually. If he repays ₹ 4400 at the
end of each year, find the amount outstanding against him at the beginning of the third
year.​

Answer 1

Here

Principal= rs. 15000

Rate=12%

•For first year

C.I.= PRT/100

15000×12×1/100

=rs.1800

Amount = 15000+1800=16800

Final amount = 16800-4400=12400 (as he repaid rs.4400)

•For second year

P= 12400

R=12%

=> 12400×12×1/100

=>Rs. 1488

Amount= (12400+1488)-4400

= 13888-4400=9488

•THEREFORE AMOUNT AT THE BEGINNING OF THIRD YEAR IS OF Rs. 9488

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