Thomas took out a loan of 15000 rupees from a Bank Vijaya charges 12 % interest compounded annually after 2 years he paid by 10000 rupees to settle down the long how much should I pay at the end of 3 years
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6
A=15000/-
with interest after two years 15000+3600=18600, Then he was pay 10000 RS.... blc amount 8600/-
After three years pay the money ((8600)+((86×12)×3))=8600+(1032×3)
8600+3096=11,696/-
with interest after two years 15000+3600=18600, Then he was pay 10000 RS.... blc amount 8600/-
After three years pay the money ((8600)+((86×12)×3))=8600+(1032×3)
8600+3096=11,696/-
Answered by
3
Loan amount =15000
Rate of interest =12%
Loan=15,000 rupees
First year's interest =15,000 ×12/100 = 1800 rupees
Loan for the second year =15000+1800=16800 rupees
Second years interest =16800×12/100=2016 rupees
Amount to paid after 2 years
=16800+2016=18816
Amount paid back after 2 years =10000
Loan amount for the third year=18816-10000=8816
Third year interest =8816×12/100=1057.92=1058
Amounts to be paid to settle the loan at the end of 3 years
=8816+1058=9874 is the answer
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