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  • A man borrowed Rs.80000 at the rate of 10% p.a. compound interest, interest being compounded annually. How much amount should he have repaid at the end of

A man borrowed Rs.80000 at the rate of 10% p.a. compound interest, interest being compounded annually. How much amount should he have repaid at the end of the first year, if by repaying Rs.55000 at the end of the second year he can clear the loan?

  • Option 1)

    Rs.38000

  • Option 2)

    Rs.33000

  • Option 3)

    Rs.45000

  • Option 4)

    Rs.50000

  • Option 5)

    Rs.40000

Answers (3)

best_answer

P= 80000

R = 10 % ‘

after first year amount = 88000

10 % rate compounded annually

If we paid 55000 at the end of  the 2nd year it means we paid 110 % of amount left after paid certain from the 1st year . C.I always calculated on previous year amount

= \frac{55000}{110} \times 100 = 50000

So that certain amount is paid after first year then the remaining amount is equal to 50000.

i.e the certain amount paid after 1st year is equal to the = 88000 -50000= 38000

 

Posted by

rishi.raj

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38000

Posted by

Guddia Rai

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Rs. 80000 borrowed at 10% p.a. will become Rs. 88000 at the end of the 1st year. Let k be the amount repaid at the end of the first year. Then the balance is Rs. 88000 - k will become the principal for the second year.(SHREE EDUCATION ZONE AMRAVATI)


⇒ 110% of (88000 – k) = 55000

⇒ 88000 – k = 50000

⇒ k = Rs. 38000.

Posted by

ANKUSH DESHMUKH

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