Question
A borrows Rs 6500 from B at 20% p.a
compound interest compounded annually. At the end of every year he pays Rs 1500 and at the end of 3rd years he pays all the amount, how much amount does he pay at the end of the 3rd year?Solution
At the end of the 1st year:
Amount = 6500 × 120% = Rs. 7800
Rest amount = 7800 – 1500 = Rs. 6300
At the end of 2nd year:
Amount = 6300 × 120% = Rs. 7560
Rest amount = 7560 – 1500 = Rs. 6060
At the end of 3rd year:
Amount = 6060 × 120% = Rs. 7272
More Simple and compound interest Questions
Tillering habit is more common is cereals except
Calvin – Benson cycle uses ______ molecules of NADPH, _____ molecules of ATP to assimilate ______ molecule of CO₂
Separation of calf and making independent of its mother for food is known as ___
Polyploidy can be induced by the use of
Soil crusting is a problem in
IBRD (International Bank for Reconstruction and Development) also known as
Tomato damping off is caused due to ____
Proper time of sowing hybrid maize is:
The inflorescence of barley is:
In which vegetable is malic acid commonly present, contributing to its sour taste?