Question

If you will give the correct solution then i will follow you ans=rs 2,709.48-
A man borrows Rs 12,000 at a compound interest rate of 8% per annum for 2 years. The lender puts the condition that if the borrower fails to clear off his debt by the end of 2 years, he will increase the rate of interest to 10% per annum. How much will the man have to pay at the end of 3 years to clear off his debt?​

Answer 1

Answer:

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Balance

=Rs.[12500×(1+10020)3]−Rs.[2000×

(1+10020)2+2000×(1+10020)+2000]

=Rs.[(12500×56×56×56)]−[(2000×56×56+2000×56+2000)]

=Rs.[21600−(2880+2400+2000)]

=Rs.14320

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Answer 2

Answer:

P = 12000 Rs

CI = 8 %

annum = 2 years

CI = 10%

Annum = 3 years

Amoumt ( a) = P × ( 1 + R / 100 ) ^ n

= 12000 × ( 100 + 8 / 100 ) ^2

= 12000 × ( 108 / 100 ) ^2

= 12000 × ( 54 / 50 ) ^2

= 12000 × ( 27 / 25 ) ^2

= 12000 × 1.16

= 13920 Rs

Amount ( a ) = 12000 × ( 110 / 100 ) ^2

= 12000 × ( 55 / 50 ) ^2

= 12000 × ( 11 / 10 )^2

= 12000 × 1.21

= 14520 Rs

14520 - 13920

= 600 Rs

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