Venu borrowed
Rs
1500 at the rate of 11% p.a .for
212
, years. What amount of money should he pay back after
212
years?
Answers
Answered by
2
Answer:
Since the man repays Rs. 1500 at the end of each year
∴ Amount he owes at the end of 1
st
year
=5000(1+
100
10
)−1500=5500−1500=Rs.40000
Amount he owes at the end of 2
nd
year
=4000(1+
100
10
)−1500=4400−1500=Rs.2900
Amount he owes at the end of 3
rd
year
=2900(1+
100
10
)−1500=3190−1500=Rs.1690
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