Question

a person bought a refrigerator worth 22800rupes with 12.5% interest compounded yearly at the end of first yaer he paid 8650rupes and at the end of 2nd yaer 9125rupes how much will he have to pay at the end of 3rd year to clear the debt?​

Answer 1

$\red{\textit{ ANSWER}}$

$\red{\texttt{ person bought a refrigerator worth}}$ Rs 22800

$\red{\texttt{interest compound }}$= 12.5 %

so,$\blue{\textit{ interest after the 1st year Rs 2850}}$

$\red{\texttt{ principal ,}}$

= 22800 + 2850- 8650

= $\textbf{Rs 17000}$

so,$\blue{\textit{ after the end of 2nd year ,}}$

$\red{\texttt{ interest}}$ = 12.5% of Rs 10,000

So, $\blue{\textit{ after the end of 2nd year ,}}$

$\red{\texttt{principal }}$ = 17000 + 2125 - 9125

= $\textbf{Rs 10,000}$

so,$\blue{\textit{ After the end of third year,}}$

$\red{\texttt{ interest}}$ = 12.5% of Rs.10,000

= $\textbf{Rs 1250}$

$\blue{\textbf{ Amount to be paid too clear the debt }}$= 10000 + 1250

= $\red{\textbf{Rs.11,250}}$

Answer 2

Refrigerator amount = Rs 22800

Given

Interest rate = 12.5%

Thereafter first year interest will be Rs 2850

Now we have to calculate Principal

= 22800 + 2850 - 8650

= Rs 17000

Thereafter interest of second year

= 12.5 percent of 17000

= Rs 2125

Now again we have

Principal :-

= 17000 + 2125 - 9125

= Rs 10000

Thereafter interest third year

= 12.5 percent of 10000

= Rs 1250

Pay at the end of 3rd year to clear the debt

= 10000 + 1250

= Rs 11250