Question

a man borrows 6000 at 5% compound interest.if he repays 1200 at the end of each year find the amount outstanding at the brginning of the third year

Answer 1

Answer:

Given Principle amount = Rs . 6000

And

Rate of interest = r = 5% compounded annually

So,

Interest after 1 year = 6000 × 5 × 1100 = 60× 5 = Rs . 300

Total money owed after 1 year = 6000 + 300 = 6300

And

Rs. 1200 paid , So

Total money starting of second year = 6300 - 1200 = Rs.5100

And

Interest after 2 year = 5100 × 5 × 1100 = 51× 5 = Rs . 255

money owned after 2 year = 5100 + 255 = 5355

And

Rs. 1200 paid , So

Total money outstanding starting of Third year = 5355 - 1200 = Rs.4155 ( Ans )

Answer 2

Step-by-step explanation:

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1

Primary School Math 5 points

A man borrows Rs 6000 for 2 years at the rate of 12% per annum compounded annually he repays rupees 3000 at the end of each year how much does he still over after the second repayment?

Ask for details Follow Report by Lapp 09.11.2017

Answers

gadakhsanket

gadakhsanket Ace

Dear Student,

● Answer -

Remaining payment = 1526 Rs

◆ Explanation -

Total amount man should have paid till the end of 2 years -

Returns = P (1 + r)^t

Returns = 6000 (1 + 12/100)^2

Returns = 6000 × (1.12)^2

Returns = 6000 × 1.2544

Returns = 7526 Rs

After 2 payments, he have paid 3000×2 = 6000 Rs.

Remaining payment = 7526 - 6000

Remaining payment = 1526 Rs

Thanks dear. Hope this helps you...

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