varun took out a loan of 25000 rupees from a bank,which charges 11℅ interest compounded annually.he paid back 10000 rupees after 2 years.how much should he pay after one year to settle the loan?
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Step-by-step explanation:
amount after 2 years = 25000(1+11/100)whole square
=25000(110/100)whole square
=25000×11/10×11/10
=250×11×11
=30250
as he paid 10000 after 2 years it becomes 30250-10000=20250
principle for next year will be 20250
amount =20250(1+11/10)
=20250×110/100
=20250×11/10
=2025×11
=22275 rupee's he needs to pay after one year.
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this is your answer
i hope its help
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