Question

Mr. Ravi borrows ₹ 16,000 for 2 years. The rate of interest for the two successive

years are 10% and 12% respectively. If he repays ₹ 5,600 at the end of first year,

find the amount outstanding at the end of the second year.
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Answer 1

Answer:

13440

Step-by-step explanation:

Here,

Principal 16000

For first year

Rate 10%

Time 1year

Now, Interest. p*r*t/100

16000*10*1/100

= 1600

Amount= p+interest

A= 16000+1600

A=17600.

Ravi paid 7600Rupees at the end of 1year but he already paid 5600rupees.

So, principal for 2nd year = 17600-5600

12000

For 2nd year

p= 12000,rate =12%, time =1year

Interest = 12000*12*1/100

=1440

Amount= principal+Interest

12000+1440

13440

Ravi paid 13440 rupeees at the end of 2nd year.

Hope it help you