b) A man borrows Rs 15000 at 10% compound interest compounded yearly.
At the end of each year, he pays back 25% of the amount for that year.
How much is left unpaid at the beginning of the third year? A
Answers
Step-by-step explanation:
Sum = 15000 Rate of interest = 10%
Interest for 1 year= 15000×10×1/100
= 150,000
total amount = p(1+r/100)^n
= 15000(1+10/100)^2
= 15,000.1
at the end of the 1st year he pay= 25% of 15,000
= 25/100×15000
= 3,750
amount left= 15000 - 3750
= 11250
instant for 2nd year = 11250×1×10/100
= 1125
total amount left after 2nd year= 11250 +1125
= 12375
at the end of 2nd year he pay = 25% of 12375
= 25/100×12375
= 3093.75
the amount left = 12375 - 3093.75
= 9281.25
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