Question

a man borrows rs 5000 at 12 percent compound interest payable every six months. he repays rs 1800 at the end of every six months . calculate the third payment he has to make at the end of 18 months in order to clear the entire loan.

Answer 1

For first year,
P = 5000
R =12%
T = 1/2 year
I = PTR/100
I = 5000×12×1/100×2
I =300
A = P + I
A = 5000+ 300
A = 5300
Man repaid = 5300 - 1800
= 3500
For next six month,
P = 3500
R = 12 %
T = 1/2
I = PTR/100
= 3500 × 12 ×1 / 100×2
= 210
A = P + I
= 3500+ 210
=3710
Man repaid= 3710- 1800
=1910
For last six month,
P= 1910
R = 12
T = 1/2
I = PTR/100
= 1910 × 12 ×1 / 100 ×2
= 114.6
A = P + I
= 1910+ 114.6
= 2024.6
Man need to pay 2024.6 to clear the entire loan

Answer 2

Answer:

Step-by-step explanation:

Principal for the first six months = Rs.5000.

Interest for the first six months = Rs.(5000 × 6 × 1)/100 = Rs.300.

Amount after six month = Rs.5000 + Rs.300 = Rs.5300.

Money refunded after six months = Rs.1800.

Principal for the second six months = Rs.5300 – Rs.1800 = Rs.3500.

Interest for the second six months = Rs.(3500 × 6 × 1)/100 = Rs.210.

Amount after second six months = Rs.3500 + Rs.210 = Rs.3710.

Money refunded after second six months = Rs.1800.

Principal for the third six months = Rs.3710 – Rs.1800 = Rs.1910.

Interest for the third six months = Rs.(1910 × 6 × 1)/100 = Rs.114.60.

Hence payment he has to make after 18 months to clear the entire loan

= Rs.1910 + Rs.114.60 = Rs.2024.60