Q2. Sudhakar borrows Rs. 22500 at 10% per annum, compounded annually. If he repays
Rs.11250 at the end of first year and Rs.12250 at the end of the second year, find the amount of
loan outstanding against him at the end of the third year.
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Answered by
27
Answer:
Rs6447 has to be paid after end of third year.
Step-by-step explanation:
Principle amount of money=Rs22500.
Rate of interest=10%
Time =3years.
Amount of money after three years,
=22500(1+10/100) ^3
=22500(1.1) ^3
=29947.
Money paid after first year = Rs 11250.
Money paid after second year= Rs12250.
Total money paid in 2 years =(11250+12250) = Rs. 23500
Money that has to be paid after 3years= (29947-23500) =Rs 6447.
Answered by
29
Answer:
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