Rakesh borrowed ₹60,000 at 12% per annum compound interest. If he pays 50% of the sum borrowed at the end of the first year and 50% of the remaining loan at the end of the second year, then find the amount of loan outstanding at the beginning of the third year.

Rakesh borrowed ₹60,000 at 12% per annum compound interest. If he pa

1.	Rakesh borrowed ₹60,000 at 12% per annum compound interest. If he pays 50% of the sum borrowed at the end of the first year and 50% of the remaining loan at the end of the second year, then find the amount of loan outstanding at the beginning of the third year.
Answer» Rakesh borrowed ₹60,000 at 12% per annum compound interest. If he pays 50% of the sum borrowed at the end of the first year and 50% of the remaining loan at the end of the second year, then find the amount of loan outstanding at the beginning of the third year.