Question

A man borrows rs. 75000 at 12% per annum compounded annually. If he repay rs. 2200 at the end of each year find the amount outstanding against him at the end of the third year.​

Answer 1

Answer:

75000+12%=84000

84000-2200=81800 at the end of first year

81800+12%=91616

91616-2200=89416 end of 2nd year

89416+12%=100415.92

100415.92-2200=97945.92ans