Question
Anil borrowed Rs.20000 on CI at the rate of 10% for
three years. He paid at the end of first year (1/8)th of amount and end of second year (1/5)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 = (20000 + 20000 × 10/100) × 7/8 = Rs.19250 Amount after second year = (19250 + 19250 × 10/100) × 4/5 = Rs.16940 Amount have to pay at the end of third year = (16940 + 16940 × 10/100) = Rs.18634
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