Question

Ranbir borrows rupee 20000 at 12% per annum compound interest. if he repays rupee 8400 at the end of the first year and rupee 9680 at the end of the second year, find the amount of loan outstanding at the beginning of the third year.​

Answer 1

Step-by-step explanation:

p=20000

r=12%p.a

c.i=?

c.i=p*r*t%100

20000*12*1%100

2400