Question

Ashok borrowed rs 12000 at some rate percent
Compound interest. After a year, he paid back rs 4000. If compound interest for the second year be rs 920 find:
1) The rate of interest charged
2) the amount of debt at the end of the second year

Answer 1

2) 8000 because by subtracting the total amount and amount payed by the person.

1) 920 because it is been said before that it is 920