Mathematics
A man borrows ₹ 15,000 at 12% per annum, compounded annually. If he repays ₹ 4,400 at end of each year, find the amount outstanding against him at the beginning of third year.
Related Questions
A man invests ₹ 10,000 for 3 years at a certain rate of interest, compounded annually. At the end of one year, it amounts to ₹ 11,200. Calculate :
(i) the rate of interest per annum;
(ii) the interest accrued in the second year;
(iii) the amount at the end of the third year.
Sudhakar borrows ₹ 22,500 at 10% per annum, compounded annually. If he repays ₹ 11,250 at the end of first year and ₹ 12,550 at the end of the second year, find the amount of loan outstanding against him at the end of the third year.
Mr. Ravi borrows ₹ 16,000 for 2 years. The rate of interest for the two successive years are 10% and 12% respectively. If he repays ₹ 5,600 at the end of first year, find the amount outstanding at the end of the second year.
Calculate the amount of ₹ 30,000 at the end of 2 years 4 months, compounded annually at 10% per annum.