Question

Rs. 10.000 is lent out at 8%
4 points
compound interest for 2 years. At the
end of the first year Rs. 2800 are
returned. Calculate (i) The interest
paid for the second year(ii) The total
interest paid in 2 years(iii) The total
amount of money paid in two years
to clear the debt.​

Answer 1

Answer:

Rs. 10.000 is lent out at 8%

4 points

compound interest for 2 years. At the

end of the first year Rs. 2800 are

returned. Calculate (i) The interest

paid for the second year(ii) The total

interest paid in 2 years(iii) The total

amount of money paid in two years

to clear the debt.