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a man borrows rupees 15000 at 12% per annum compounded annually. if he paid rupees 4400 at the end of each year find the amount outstanding against him at the beginning of the third year? |
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Answer» Amount to be paid at the END of TWO YEARS will be =Amountafter2years=8000(1+ 10010 ) 2 =8000(1.1) 2 =8000(1.21) =9680 Amount already paid in 2 years is(3200+1500)=4700 Therefore amount of loan outstanding at the beginning of third year will be(9680−4700)=4980 follow me ✌️ keep samile ✌ |
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