23. A man borrows Rs 8,000 at a compound interest rate of 10% per annum. If he repays Rs 1,500 at theend of the first year and Rs 2,000 at the end of the second year, find his outstanding loan at thebeginning of the thirdyear. About the author Anna
answer-4980 explaination: amount to be paid at the end of two years will be= Amount after two years = 8000(1+10/100)square=8000(1.1)square 8000(1.21)=9680 Amount already PAID IN TWO YEARS IS (3250+1500)=4700 THEREFORE AMOUNT OF LOAN OUTSTANDING AT THE BEGGINING OF THE THIRD YEAR WILL BE (9680-4700)=4980 Reply
answer-4980
explaination:
amount to be paid at the end of two years will be=
Amount after two years =
8000(1+10/100)square=8000(1.1)square
8000(1.21)=9680 Amount already
PAID IN TWO YEARS IS (3250+1500)=4700
THEREFORE AMOUNT OF LOAN OUTSTANDING AT THE BEGGINING OF THE THIRD YEAR WILL BE (9680-4700)=4980
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