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.
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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
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