Question

Pramod borrowed rupees 60000 at 12% per annum compounded 50% of the borrowed at the end of first year and 50% of the remaining loan at the end of the second year, find the amount of loan outstanding at the beginning of the third year

Answer 1

Refers to attachment.....!!!!

Answer 2

Answer:

Rs 23064

Step-by-step explanation:

pramod borrowed rupees 60000

Rate of interest = 12% per annum

Interest in 1 year = 60000 * 12 * 1 /100 =  7200

amount=60000+7200=67200

He pays 50%  of 60000= Rs 60000/2 = Rs 30000

he paid 30000 at the end of 1st year

remaining to be repaid=67200-30000=37200

interest for second year=37200 * 12 * 1 /100 = 4464

amount=37200+4464=41664

50% of 37200=18600

he paid 18600 at the end of 2nd year

remaining to be repaid=41664-18600=23064

and,therefore 23064 is the outstanding loan for the beginning of the 3rd year