Question

Kamal borrowed rs 25,600 at 12.5% p.a SI .At the end of 2 years he paid back rs 15,000 .How much must he pay at the end of the fifth year to clear the depth ?​

Answer 1

Answer:

Jaya borrowed Rs. 50,000 for 2 years. The rates of interest for two successive years are 12% and 15% respectively. She repays Rs. 33,000 at the end of the ...

Answer 2

Answer:

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Total Amount borrowed by Kamal = Rs.25,000

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

Interest=100Principle×Time×Rate

Interest=25000×2×12.5/100

Interest=Rs 6000

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

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

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

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

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

Interest= 10023,000×1×15

Interest=Rs.3,450

So the total amount he has to pay to clear his debt= Amount+Interest

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

=Rs.26,450

So, Kamal has to pay a total amount of Rs.26,450 to clear his debt