Question

RS 8000is lent at 7%compound interest for 2years .At the end of first yearrd 3560 are returned.calculate-
1. interest paid for 2nd year
2. total interest paid in 2 years
3. total amount of money paid in 2 years ​

Answer 1

Step-by-step explanation:

P=8000 , R= 7% , T = 2yrs

For 1st year

S.I = PRT/100

S. I = 8000*7*1/100

S. I = 560

A= P +S.I

A= 8000+560

A =8560

He pays 3560

Money left to pay = 8560 - 3560

= 5000

For 2nd year

P =5000

S.I = 5000*7*1/100

S.I = 350

Intrest to be paid for 2years = 350

Total Intrest paid in 2 years = 350+560

= 910

Amount = 5000+350

Amount = 5350

Total money to be paid in 2 years to clear dept. = 5350

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