Question

A man borrows Rs 5800 at 12%per annum .He repays Rs 1800 at the end of every 6 month.Calculate the amount outstanding at the end of the 3rd year

Answer 1

Answer:

Rs. 1177.4128 or approximately imately Rs.1177

Step-by-step explanation:

for the first year

P=Rs.5,800

N=1/2 year

R=12percent

we have S.I .=PNR/100=5,800×1/2×12/100=Rs 348

And amount at the end of first 6 months

P+S.I.=Rs 5,800+Rs 348=Rs 6,148

Now,for the second half of year

P=Rs 6,148-Rs 1,800=Rs 4,348

N=1/2 year R=12percent

we have S.I=PNR/100=4,348×1/2×12/100=RS 260.88

And amount at the end of second half year

P+S.I.=Rs 4,348+Rs 260.88=Rs 4,608.88

Also,for the third half year.

P=Rs 4,608.88- Rs 1,800=Rs 2,808.88

N=1/2 year

R=12 percent

we have S.I .= PNR/100=2,808.88×1/2×12/!00=

Rs= 168.5328

And amount at the end of the third half year

P+S.I= Rs 2,808.88+Rs 168.5328=

Rs 2977.4128 or approximately Rs 2977 and after the third payment amount outstanding =2977.4128- 1,800=Rs 1177.4128 or approximately Rs 1177