Mr.Ram borrows Rs20000 compounded annually.The rate of interest for two successive years are 9% and 10% respectively.If he repays Rs1200 at the end of the first year. Rs 1660 at the end of the second year.
Answers
Answer:
ill send the pic
Step-by-step explanation:
he gives 582 rs extra
lol!!
Given : Mr.Ram borrows Rs20000 compounded annually. rate of interest for two successive years are 9% and 10% respectively.
To find : Balance Amount remaining after 2 Years
Solution:
P = 20000
R = 9 %
Interest for 1st year = 20000 * 9 * 1 /100 = Rs 1800
Amount Paid = Rs 1200
Amount remain after 1 year = 20000 + 1800 - 1200
= 20600 Rs
Interest for 2nd Year = 20600 * 10 * 1 /100
= Rs 2060
Paid at 2nd year = Rs 1660
Interest Paid Less = 2060 - 1660
= Rs 400
Amount Balance after 2 year = 20600 + 400
= Rs 21000
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