Question

A person borrows 25,000 at a compound interest of 11% per annum, the compound interest
being payable annually. He repays 10,000 at the end of the second year and 5,000 at
the end of the third year. How much must he pay at the end of the fourth year to fully discharge
the debt?
fasttttt​

Answer 1

20,080.76 Rs has to be paid at end of 4 year to fully discharge debt

Step-by-step explanation:

P = 25000 Rs

R = 11% per annum

Amount after 2 Year = 25000(1 + 11/100)²

30802.5 Rs

Repays Rs 10000

Remaining amount after 2 year = 30802.5  - 10000

= 20802.5 Rs

Amount after 3rd Year = 20802.5(1 + 11/100)

= Rs 23,090.775‬

Repays rs 5000

Remaining amount after 3 year = 23,090.775‬ - 5000

= 18090.775‬ Rs

Amount at end of  4 year =  18090.775( 1 + 11/100)

= 20,080.76 Rs

20,080.76 Rs has to be paid at end of 4 year to fully discharge debt

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