Question

Jaya borrowed 50000 for 2 years. The rates of interest for two successive years are
12% and 15% respectively. She repays 33000 at the end of first year. Find the amount
she must pay at the end of second year to clear her debt.​

Answer 1

Answer:

Total Amount borrowed by Jaya = Rs.50,000

let us first calculate the interest on that amount in the first year

Interest=

100

Principle×Time×Rate

Interest=

100

50000×1×12

Interest=Rs 6000

So,Jaya has to pay an interest of Rs. 6,000 by the end of the first year.

But she has paid an amount of Rs. 33,000

So,she has cleared a debt of Rs.33,000−Rs.6,000=Rs.27,000

Remaining debt of Jaya = Rs.50,000−Rs.27,000=Rs.23,000

By the end of the second year she has to pay an interest for an amount of Rs.23,000

Interest=

100

23,000×1×15

Interest=Rs.3,450

So the total amount she has to pay to clear her debt= Amount+Interest

=Rs.23,000+Rs.3,450

=Rs.26,450

So, Jaya has to pay a total amount of Rs.26,450 to clear her debt

Answer 2

It is given that

Amount borrowed by Jaya = ₹ 50000

Period (n) = 2 years

Rate of interest for two successive years are 12% and 15% respectively

We know that

Interest for the first year = Prt/100

Substituting the values

= (50000 × 12 × 1)/ 100

= ₹ 6000

So the amount after first year = 50000 + 6000 = ₹ 56000

Amount repaid = ₹ 33000

Here

Balance amount for the second year = 56000 – 33000 = ₹ 23000

Rate = 15%

So the interest for the second year = (230000 × 15 × 1)/ 100

= ₹ 3450

Amount paid after second year = 23000 + 3450 = ₹ 26450

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