Ashok borrowed Rs.12,000 at some rate per cent compound interest. Afte

1.	Ashok borrowed Rs.12,000 at some rate per cent compound interest. After a year, he paid back Rs. 4,000. If compound interest for the second year be Rs. 920, find : (i) the rate of interest charged (ii) the amount of debt at the end of the second year.
Answer» Ashok borrowed Rs.12,000 at some rate per cent compound interest. After a year, he paid back Rs. 4,000. If compound interest for the second year be Rs. 920, find : (i) the rate of interest charged (ii) the amount of debt at the end of the second year.

Ashok borrowed Rs.12,000 at some rate per cent compound interest. After a year, he paid back Rs. 4,000. If compound interest for the second year be Rs. 920, find : (i) the rate of interest charged (ii) the amount of debt at the end of the second year.

Answer»

Ashok borrowed Rs.12,000 at some rate per cent compound interest. After a year, he paid back Rs. 4,000. If compound interest for the second year be Rs. 920, find :

(i) the rate of interest charged

(ii) the amount of debt at the end of the second year.

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Ashok borrowed Rs.12,000 at some rate per cent compound interest. After a year, he paid back Rs. 4,000. If compound interest for the second year be Rs. 920, find : (i) the rate of interest charged (ii) the amount of debt at the end of the second year.

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