Question

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Answer 1

Answer

Investment = 25000 Rs, rate=11%

Varun Paid Back 10000 Rs after 2 years.

So we need to calculate Amount after 2 years.

Amount after 2 years = 25000(1+11/100)2

= 30802.5 Rs

Varun paid back 10000 Rs

The principal balance will change

Remaining balance = 30802.5-10000

= 20802.5 Rs

The Amount is 20802.5 Rs.

This amount will change because bank charges 11% interest compounded annually.

After a year amount paid by varun = 20802.5(1+11/100)1

= 23090.775

.775paisa is rounded to 1 Rupee. Less than .5 are ignored.

=23091 Rs

Answer 2

Answer:

Hi Anu , Hope this answer helps you