Question

Soham borrowed rs 15000 from his friend for 2 years at 6% p.a.Interest being compounded annually.If he paid rs 10900 at the end of first year.fimd how will he pay at the end of the second year to clear his debt​

please answer this question

Answer 1

Given :-

• Borrowed sum by Soham = Rs.15000
• Time = 2 years
• Rate = 6% compounded annually .
• Paid in first year . = Rs.10900.

To Find :-

• How much He has to pay after 2nd year ?

Solution :-

We know That , interest on First year is same in SI or CI.

So,

→ Interest on 1st year = ( P * R * T,) / 100

→ interest = (15000 * 1 * 6 ) / 100 = Rs.900 .

So,

→ Amount After 1 year = P + Interest = 15000 + 900 = Rs.15900.

Now, he gave , Rs.10900 back.

So,

Amount left to be given = 15900 - 10900 = Rs.5000.

and,

→ Interest on Rs.5000 for second year = (5000*6*1)/100 = Rs.300 .

So,

→ Total Amount he paid = 5000 + 300 = Rs.5300

Hence, He paid Rs.5300 the end of the second year to clear his debt...

Answer 2

Answer ::::::------

SI = ( P * R * T) / 100

=> Simple interest = (15000 * 1 * 6 ) / 100 = Rs.900 .

So,

=> Amount After 1 year = Principal + Interest = 15000 + 900 = Rs.15900.

Now, he gave , Rs.10900 back. Than, amount left to be given = 15900 - 10900 = Rs.5000.

=> Simple Interest on Rs.5000 for second year = (5000*6*1)/100 = Rs.300 .

Hence ,

=> Total Amount he paid = 5000 + 300 = Rs.5300

So, he paid Rs.5300 to clear his debt.