A man borrows rs. 3000 at 10% per annum and promises to pay rs. 1000 every year. If he wish to finish all his what amount he have to pay in third year.
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Answer:
The Man have to pay Rs. 1600 at third year. If he want wish to finish the amount in third year.
Step-by-step explanation:
Hey Mate,
The simple interest of Rs. 3000 at the rate of 10% for 1 years.
S I = ( PRT/ 100)
S I = ( 3000 × 10 × 1 ) / 100
S I = 300.
Interest of first year = Rs. 300.
Man Paid 1000 every year. So, amount left after first year is (3000 - 1000) = 2000
For, Second Year
S I = ( PRT/ 100)
S I = ( 2000 × 10 × 1 ) / 100
S I = 200.
Interest of first year = Rs. 200.
Man Paid 1000 every year. So, amount left after second year is (2000 - 1000) = 1000
For, Third Year
S I = ( PRT/ 100)
S I = ( 1000 × 10 × 1 ) / 100
S I = 100.
Interest of first year = Rs. 100.
So, The total interest is (300 + 200 + 100) = 600.
So,The Man have to pay Rs. 1600 at third year. If he want wish to finish the amount in third year.
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