Question

Mr. Dubey borrows rs100000 from a bank at 10%p.a compound interest. what amount will he have to pay to the bank​

Answer 1

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