Question

mr dubey borrows rs 100000 from a bank at 10% per annum compound interest what amount will he have to pay to the bank after 3 years

Answer 1

Answer:

for the first year

100000 * 10 /100

= 10000 + 100000

=110000

for the second year

110000 * 10 /100

11000 + 110000

121000

for the third year

121000 * 10 /100

12100 +121000

133100

the answer is above

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Step-by-step explanation:

Answer 2

Answer:

P=100000 , R=11%

At the end of 1 year

Interest =$\frac{PRT}{100}$ →$\frac{100000×11×1}{100}$ →11000

Amount =P+I=111000

Repaid Amount =41000

Outstanding after 1 year =111000−41000=70000

Since it is Compound Interest, Principle will be Outstanding (or amount) of previous year,

P ′ =70000

I= $\frac{PRT}{100}$ →$\frac{70000×11×1}{100}$→7700

A=77700

RA=47700

Therefore Outstanding at start of 3 year=77700−47700=30000