Question

Man borrowed rupees 40000 at 8% simple interest per year. At the end of second year he paid back certain amount and at the end of fifth year he paid back rupees 35960 and clear the debt . what is the amount that he paid back after the second year​

Answer 1

Given : Man borrowed rupees 40000 at 8% simple interest per year. At the end of second year he paid back certain amount and at the end of fifth year he paid back rupees 35960

To find :  amount that he paid back after the second year​

Solution:

Let say amount paid back after 2 years = X

Then  Interest in 2 years =  40000 *  8 * 2/100 =  Rs 6400

P after 2 years = 40000 + 6400 - X  Rs  

Interest for next 3 years

(46400 - X) * 8 * 3 /100  = 11136  - 24X/100

Total Paid back = 40000 + Total interest

=> 35960 + X  = 40000 + 6400 + 11136  - 24X/100

=> 124X/100 = 21576

=> X = 17400  Rs

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