Question

Sudhakar borrows RS. 22500 at 10 percent per anum, compounded annually. If he repays RS. 11250 at the end of first year and RS. 12550 at the end of second year, find the amount of loan outstanding against him at the end of the third year.​

Answer 1

Answer:Principal (P) = Rs.22500

Rate (r) =10% p.a.

Period (n) =3 years

Amount at the end of first year = P(1+r/100)1 = 22500 (1+10/100)1 = 22500 x 11/10 = Rs.24750

Amount paid at the end of first year =Rs. 11250

Balance = Rs.24750 - Rs.11250 =Rs.13500

Amount at the end of 2nd year = Rs.13500 (1+10/100)1 = Rs.13500 x 11/10 = Rs.14850

Amount paid at the end of 2nd year =Rs.12550

Balance = Rs. (14850-12550) = Rs. 2300

Amount at the end of 3rd year = 2300 (1+10/100)1 = 2300 x 11/10 = Rs.2530

Amount paid at the end of 3rd year = Rs. 2530

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Answer 2

Step-by-step explanation:

24750

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