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.

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» <html><body><p><strong>Step-by-step explanation:</strong></p><p>P = ₹ 15,000</p><p>Interest for 1st year </p><p>= </p><p> </p><p>15,000×8×1100</p><p>= ₹ 1,200</p><p></p><p><a href="https://interviewquestions.tuteehub.com/tag/amount-374803" style="font-weight:bold;" target="_blank" title="Click to know more about AMOUNT">AMOUNT</a> after one year</p><p>= ₹ (15,000 + 1,200)</p><p>= ₹ 16,200</p><p></p><p>He <a href="https://interviewquestions.tuteehub.com/tag/repays-2986727" style="font-weight:bold;" target="_blank" title="Click to know more about REPAYS">REPAYS</a> ₹ 6,200 at the <a href="https://interviewquestions.tuteehub.com/tag/end-971042" style="font-weight:bold;" target="_blank" title="Click to know more about END">END</a> of the 1st year</p><p>∴ Principal for 2nd year</p><p>= ₹ (16,200 - 6,200)</p><p>= ₹ 10,000</p><p></p><p>Now interest for the 2nd year</p><p>= </p><p> </p><p>10,000×10×1100</p><p>= ₹1,000</p><p></p><p>∴ Amount <a href="https://interviewquestions.tuteehub.com/tag/outstanding-1143197" style="font-weight:bold;" target="_blank" title="Click to know more about OUTSTANDING">OUTSTANDING</a> at the end of 2nd year</p><p>= ₹ (10,000 + 1,000)</p><p>= ₹ 11,000.</p></body></html>

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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.