A person lends ₹5000 from a bank . If the bank fixes rate fo interest as 10% per annum then the amount he has to pay back after 2 yr will be
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Answered by
0
Answer:
Since the man repays Rs. 1500 at the end of each year
∴ Amount he owes at the end of 1
st
year
=5000(1+
100
10
)−1500=5500−1500=Rs.40000
Amount he owes at the end of 2
nd
year
=4000(1+
100
10
)−1500=4400−1500=Rs.2900
Amount he owes at the end of 3
rd
year
=2900(1+
100
10
)−1500=3190−1500=Rs.1690
Answered by
2
formula to get the interest-
{(principal×time×interest rate)/100}
so
{(5000×2×10) ÷ 100}
={100000÷100}
=1000
then after 2 years the total amount that he have to pay the bank is-(principal+interest) (5000+1000)Rs.= 6000Rs.
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