A man borrows Rs.10,000 at 10% C.I. compounded yearly . At the end of each year he pays back 20% of the amount for that year . How much money is left unpaid just after 2nd year ?

Name: A man borrows Rs.10,000 at 10% C.I. compounded yearly . At the end of each year he pays back 20% of the amount for that year . How much money is left unpaid just after 2nd year ?
Uploaded: Mon, 2021-05-24 14:19
Description: A man borrows Rs.10,000 at 10% C.I. compounded yearly . At the end of each year he pays back 20% of the amount for that year . How much money is left unpaid just after 2nd year ?

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A man borrows Rs.10,000 at 10% C.I. compounded yearly . At the end of each year he pays back 20% of the amount for that year . How much money is left unpaid just after 2nd year ?

Answers (1)

For 1st year
P=Rs.10000,R=10% and T=1year
Interest=Rs. $frac10000*10*1100$ =Rs. $1000$
Amount at the end of 1st year=Rs. $10000+$ Rs. $1000$ =Rs. $11000$
Money paid at the end of 1st year= $20%of$ Rs. $11000$ =Rs. $2200$
$herefore$ Principle for 2nd=Rs. $11000$ -Rs. $2200$ =Rs. $8800$
For 2nd year:
P=Rs. $8800$ ;R=10% and T=1 year
Interest=Rs. $frac8800*10*1100$ =Rs. $880$
Amount at the end of the 2nd year=Rs. $8800$ +Rs. $880$ =Rs. $9680$
Money paid at the end of the 2nd year= $20%: of$ Rs. $9680$ =Rs. $1936$
$herefore$ Principle for 3rd year=Rs. $9680$ -Rs. $1936$ =Rs. $7744$ .