Question

A man borrows rs.8000 at 10% CI payable every 6 months.calculate the third payment he has to make at the end of 18 months in order to clear the entire loan.

Answer 1

Answer:

$Amount \: to \: be \: paid \: at \: the \: end of \: two \: years \: will \: be =Amount \: after \: 2years=8000(1+10010)2 =8000(1.1)2 =8000(1.21) =9680 \:  Amount already \: paid \: in \: 2 years is(3200+1500)=4700 \:  Therefore \: amount of loan \: outstanding \: at \: the \: beginning \: of \: third year \: will be(9680−4700)=4980</p><p></p><p>$

Step-by-step explanation:

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