Mr ravi borrows 16000 for 2 years the rare of intrest for the twi successive 10%and 12% respectively if he repays 5600 at the end of first year outstanding at the end of second year
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Amount for 2 years = Rs16000
Rate of Interest 1 = 10%
Rate of Interest 2 = 12%
Time = 2 years
Amount = 16000 × 110÷100 × 112÷100 = Rs 19712
Repayment at the end of first year = Rs5600
Amount left at the end of second year = 19712 - 5600 = Rs 14112 --- ANS
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