Question

Arjun took a loan of 25000 rupees from a bank which charges 10%

interest compounded annually. After one year he repaid 10000rupees.

How much should he repay to close the loan after one more year?​

Answer 1

Answer:

20,000 rupees

Step-by-step explanation:

First, calculate 10% of 25000, which we can do with 25000\10=2500

Then, calculate the interest over the total years, which is 2. 2500*2=5000

Now, add the total interest to the total cost which is 5000+25000=30000.

Finally if he paid 10,000 then he owes 20,000 because 10+20=30(000).