A man borrows Rs 15000 at 10% compound interest compounded yearly.
At the end of each year, he pays back 25% of the amount for that year.
How much is left unpaid at the beginning of the third year?
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A man borrows Rs. 10,000 at 10% compound interest compounded yearly. At the end of each year, he pays back 20% of the amount for the year. How much money is left unpaid just after the second year?
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Sum=Rs.10,000
Rate of interest=10%
Interest for one year=
100
10000×10×1
=Rs.1000
Total amount=10000+1000=Rs.11000
At the end of first year he pay =20% of 11000=
100
20
×11000=Rs.2200
Amount left=11000−2200=Rs.8800
∴ Interest for second year=
100
8800×1×10
=Rs.880
Total amount aftre 2 year=8800+880=Rs.9680
At the end of second year he pay=20%of9680=
100
20
×9680=Rs.1936
He pay again rs 3000 then the amount left=9680−1936=Rs.7744
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