Question

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

Answer 1

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/-

Answer 2

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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