Question
Anil borrowed Rs.10000 on CI at the rate of 20% for
three years. He paid at the end of first year (1/8)th of amount and end of second year (1/6)th of amount. How much amount Anil have to pay at the end of third year to complete his debt?Solution
Amount after one year = (10000 + 10000 × 20/100) × 7/8 = Rs.10500 Amount after second year = (10500 + 10500 × 20/100) × 5/6 = Rs.10500 Amount have to pay at the end of third year = (10500 + 10500 × 20/100) = Rs.12600
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