Rs. 8,000 is lent out at 7% compound interest for 2 years. At the end

1.	Rs. 8,000 is lent out at 7% compound interest for 2 years. At the end of the first year Rs. 3,560 are returned. Calculate : (i) the interest paid for the second year. (ii) the total interest paid in two years (iii) the total amount of money paid in two years to clear the debt.
Answer» Rs. 8,000 is lent out at 7% compound interest for 2 years. At the end of the first year Rs. 3,560 are returned. Calculate : (i) the interest paid for the second year. (ii) the total interest paid in two years (iii) the total amount of money paid in two years to clear the debt.

Rs. 8,000 is lent out at 7% compound interest for 2 years. At the end of the first year Rs. 3,560 are returned. Calculate : (i) the interest paid for the second year. (ii) the total interest paid in two years (iii) the total amount of money paid in two years to clear the debt.

Answer»

Rs. 8,000 is lent out at 7% compound interest for 2 years. At the end of the first year Rs. 3,560 are returned. Calculate :

(i) the interest paid for the second year.

(ii) the total interest paid in two years

(iii) the total amount of money paid in two years to clear the debt.