Question

Mr kumar borrowed Rs 15000 for 2 yrs . The rate of interest for the two succesive years are 8% and 10% respectively . if he repays Rs 6200 at the end of the second year.

Please elaborate​

Answer 1

Answer:

Rs. 11000

Step-by-step explanation:

End of First Year

Principal + Interest = Total Outstanding At End of First Year

15000 + 8 % = 16,200/- at Firat Year End

now Repayment Done of 6200/-

Means 16200 - 6200 = 10,000/- Total Outstanding At Starting of 2ed Year.

Now at the End of 2ed Year

Principal + Interest = Total Outstanding

10000 + 10% = 11,000/-