Question

Gautam takes a loan of 16,000 for 2 years
at 15% p.a. compound interest. He repays
* 9,000 at the end of first year. How much
must he pay at the end of second year to clear
the debt? PLZ GIVE STEP BY STEP EXPLANATION​

Answer 1

★Given:-

• Loan taken = Rs.16,000
• Time = 2 years
• Rate = 15% p.a.
• He repays  Rs.9,000 at the end of first year.

★To find:-

• How much  must he pay at the end of second year to clear  the debt.

★Solution:-

Using the formula,

✦Interest = PRT/100  

Where,

• P = principle
• R = rate
• T = time

Putting values,

Interest for the first year:-

➺ PRT/100  

➺16000(15)(1)/100

➺Rs.2400

Amount after one year:-

➺16000 + 2400

➺Rs.18400  

Given that he repays Rs.9000 at the end of first year.

Balance amount=18400-9000

                          =Rs.9400

Interest for second year:-

➺PRT/100

➺9400(15)(1)/100

➺Rs.1410  

Amount after second year:-

➺9400 + 1410

➺Rs.10810

Hence,he has to pay Rs.10810 at the end to second year to clear debt.

______________

Answer 2

$\large\underline{\green{\sf \purple{\bigstar} Correct\; Question:-}}$

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• ➽ Gautam takes a loan of 16,000 for 2 years at 15% p.a. compound interest. He repays * 9,000 at the end of first year. How much must he pay at the end of second year to clearthe debt?

⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀

$\large\underline{\red{\sf \orange{\bigstar} Given:-}}$

⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀

• ➽ Loan taken (P) = ₹ 16000

⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀

• ➽ Rate (R) = 15% p.a.

⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀

• ➽ Time (T) = 2 years

⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀

$\large\underline{\pink{\sf \blue{\bigstar} To \;Find:-}}$

⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀

• ➽ How much must he pay at the end of second year to clear the debt?

⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀

$\large\underline{\blue{\sf \orange{\bigstar} Solution:-}}$

⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀

• ➽∴ Interest for the first year = P×R×T / 100
• = 16000×15×1 / 100

⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀

⠀ ➩ $\purple{\sf{\star\;= ₹ \;2400}}$

⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀

• ➽ Amount After one year = ₹16000 + 2400

⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀

➩ $\blue{\sf{\star\;= ₹\; 18400}}$

⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀

• ➽ At the End of one year Amount paid back

⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀

• ➽ = ₹ 9000

⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀

• ➽ Balance Amount = ₹ 18400 – 9000

⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀

•➩ $\pink{\sf{\star\;₹ \;9400\; ✔}}$

⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀

• ➽ Interest for the second year = 9400×15×1 / 100

⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀

•➩ $\red{\sf{\star\;₹ \;1410\; ✔}}$

⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀

• ➽ Amount After second year = ₹ 9400 + 1410

⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀

•➩ $\pink{\sf{\star\;₹\; 10810\; ✔}}$

⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀

$\orange{\sf{\star\;Note:-}}$

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⠀⠀⠀⠀⠀

• $\textsf{kindly swipe the answer right from left to veiw whole answer. Thank u! :D}$⠀⠀⠀

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