Jaya borrowed Rs.50000 for 2 years. The rates of interest for two successive years are 12% and 15% respectively. She repays Rs.33000 at the end of first year. Find the amount she must pay at the end of second year to clear her dept.
Answers
Step-by-step explanation:
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
Conclusion
26,450
Hope you it helps
Answer:
=26,450
Step-by-step explanation:
For first year
P = 50000, R = 12%, T = 1
SI = 50000*12*1/100
= 500*12 = 6000
Total amount after one year = 50000 + 6000 = 56000
But she repay 33000. Then remaining debt
= 56000 - 33000 = 23000
For second year
P = 23000, R = 15%, T = 1
SI = 23000*15*1/100
= 230*15 = 3450
Total amount after second year she has to pay to clear debt
= 23000 + 3450 = 26450