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%ofRs.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.

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