Question

compound intes
16 A man borrows 6000 at 5% compound interest. If he repays 1200 at the end of each
year, find the amount outstanding at the beginning of the third year.
17 Mr. Dubey borrows 1pqpoo from State Bank of India at 11% per annum compound
interest. He repays 41000 at the end of first year and 47700 at the end of second
year. Find the amount outstanding at the beginning of the third year.
BO​

Answer 1

Answer:

16 A man borrows 6000 at 5% compound interest. If he repays 1200 at the end of each

year, find the amount outstanding at the beginning of the third year.

After 1 year

= 300

17 Mr. Dubey borrows 100,000 from State Bank of India at 11% per annum compound

interest. He repays 41000 at the end of first year and 47700 at the end of second

year. Find the amount outstanding at the beginning of the third year.

Principle = 100,000

= 11% compound annually

interest after 1 year = 11,000

total after 1 year = 111,000

41,000 paid

after 2 years = 70,000

interest = 7,700

47,700 paid

year 3

77,700 - 47,700 = 30,000