Question

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.

Answer 1

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.