Advertisements
Advertisements
Question
Mr. Kumar borrowed Rs. 15,000 for two years. The rate of interest for the two successive years are 8% and 10% respectively. If he repays Rs. 6,200 at the end of the first year, find the outstanding amount at the end of the second year.
Solution
P = ₹ 15,000
Interest for 1st year
= `(15,000 xx 8 xx 1)/(100)`
= ₹ 1,200
Amount after one year
= ₹ (15,000 + 1,200)
= ₹ 16,200
He repays ₹ 6,200 at the end of the 1st year
∴ Principal for 2nd year
= ₹ (16,200 - 6,200)
= ₹ 10,000
Now interest for the 2nd year
= `(10,000 xx 10 xx 1)/(100)`
= ₹1,000
∴ Amount outstanding at the end of 2nd year
= ₹ (10,000 + 1,000)
= ₹ 11,000.
APPEARS IN
RELATED QUESTIONS
Jaya borrowed Rs. 50,000 for 2 years. The rates of interest for two successive years are 12% and 15% respectively. She repays 33,000 at the end of the first year. Find the amount she must pay at the end of the second year to clear her debt.
A sum of Rs. 65000 is invested for 3 years at 8 % p.a. compound interest.
Find the sum due at the end of the second year.
Alisha invested Rs 75000 for 4 years at 8 % p.a. compound interest,
Find the interest earned in the third year.
Natasha gave Rs.6O,OOO to Nimish for 3 years at 15%,p.a. compound interest.
Calculate to the nearest rupee :
The Compound Interest paid by Nimish
Calculate the arnount and the cornpound interest for the following:
Rs 20,000 for 3 years at `7 1/2 %` for the first year, 8% for the second year and 10% for the third year.
Pooja borrowed Rs 15,000 from Sonali at 11% p.a. compound interest. If she repays Rs 7,550 at the end of first year and Rs 6,101 at the end of second year, find the amount Pooja needs to give to Sonali at the end of third year to clear her debt.
Mohan invested a certain sum at compound interest, compounded annually. If the interests for two successive years were Rs 600 and Rs 648, calculate the rate of interest and the sum invested.
A borrowed Rs. 2,500 from B at 12% per annum compound interest. After 2 years, A gave Rs. 2,936 and a watch to B to clear the account. Find the cost of the watch.
A manufacturer estimates that his machine depreciates by 15% of its value at the beginning of the year. Find the original value (cost) of the machine, if it depreciates by Rs. 5,355 during the second year.
The compound interest, calculated yearly, on a certain sum of money for the second year is Rs. 1320 and for the third year is Rs. 1452. Calculate the rate of interest and the original sum of money.
