Mr. kumar borrowed `15000 for 2 years. The rate of interest for two su

1.	Mr. kumar borrowed `15000 for 2 years. The rate of interest for two successiveyears are 8% and 10% respectively. Find the outstanding amount at the end of the second year.
Answer» Step-by-step explanation: P = ₹ 15,000 Interest for 1st year = 15,000×8×1100 = ₹ 1,200 AMOUNT after one year = ₹ (15,000 + 1,200) = ₹ 16,200 He REPAYS ₹ 6,200 at the END of the 1st year ∴ Principal for 2nd year = ₹ (16,200 - 6,200) = ₹ 10,000 Now interest for the 2nd year = 10,000×10×1100 = ₹1,000 ∴ Amount OUTSTANDING at the end of 2nd year = ₹ (10,000 + 1,000) = ₹ 11,000.

Mr. kumar borrowed `15000 for 2 years. The rate of interest for two successiveyears are 8% and 10% respectively. Find the outstanding amount at the end of the second year.

Answer»

Step-by-step explanation:

P = ₹ 15,000

Interest for 1st year

15,000×8×1100

= ₹ 1,200

AMOUNT after one year

= ₹ (15,000 + 1,200)

= ₹ 16,200

He REPAYS ₹ 6,200 at the END of the 1st year

∴ Principal for 2nd year

= ₹ (16,200 - 6,200)

= ₹ 10,000

Now interest for the 2nd year

10,000×10×1100

= ₹1,000

∴ Amount OUTSTANDING at the end of 2nd year

= ₹ (10,000 + 1,000)

= ₹ 11,000.

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Mr. kumar borrowed `15000 for 2 years. The rate of interest for two successiveyears are 8% and 10% respectively. Find the outstanding amount at the end of the second year.​

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Mr. kumar borrowed `15000 for 2 years. The rate of interest for two successiveyears are 8% and 10% respectively. Find the outstanding amount at the end of the second year.