Question

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​

Answer 1

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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