Question

Ashok borrowed 12000 rupees at some rate% compound interest. After a year, he paid back 4000 rupees. If compound interest for the 2nd year be 920 rupees, find: a) the rate of interest charged , b) the amount of debt at the end of second year. ( without using formula )

Answer 1

Answer:

SI= 2×920×12000÷100 =220800