ICSE Class 9 Answered
sudhakar borrows Rs 22500 at 10%per annum , compounded annually . if he repays Rs 11250 at the end of first year and Rs12550 at the end of second year , find the amount of loan outstanding against him at the end of the third year .
Asked by sayantikasingh3318.9sdatl | 20 May, 2020, 08:59: AM
Expert Answer
Principal (P) = Rs.22500
Rate (r) =10% p.a.
Period (n) =3 years
Amount at the end of first year = P(1+r/100)1 = 22500 (1+10/100)1 = 22500 x 11/10 = Rs.24750
Amount paid at the end of first year =Rs. 11250
Balance = Rs.24750 - Rs.11250 =Rs.13500
Amount at the end of 2nd year = Rs.13500 (1+10/100)1 = Rs.13500 x 11/10 = Rs.14850
Amount paid at the end of 2nd year =Rs.12550
Balance = Rs. (14850-12550) = Rs. 2300
Amount at the end of 3rd year = 2300 (1+10/100)1 = 2300 x 11/10 = Rs.2530
Amount paid at the end of 3rd year = Rs. 2530
Answered by Renu Varma | 20 May, 2020, 10:17: AM
Concept Videos
ICSE 9 - Maths
Find the rate of compound interest on rupees 4000 so that it can amount to rupees 4630.50 in 3 years
Asked by uttamasingh422 | 22 Apr, 2023, 10:04: AM
ANSWERED BY EXPERT
ICSE 9 - Maths
Asked by gamertejas57 | 27 Jun, 2022, 06:08: PM
ANSWERED BY EXPERT
ICSE 9 - Maths
Asked by krishnasangam2008 | 11 Apr, 2022, 09:06: PM
ANSWERED BY EXPERT
ICSE 9 - Maths
Asked by ritasingh2502 | 13 Jul, 2021, 12:44: PM
ANSWERED BY EXPERT
ICSE 9 - Maths
Asked by payalpshah10 | 28 Jun, 2021, 04:30: PM
ANSWERED BY EXPERT
ICSE 9 - Maths
Asked by vartikaagarwal61.9soc | 09 Jun, 2021, 08:45: PM
ANSWERED BY EXPERT
ICSE 9 - Maths
Asked by shilmesh2325 | 30 Jan, 2021, 09:35: AM
ANSWERED BY EXPERT
ICSE 9 - Maths
Asked by rishi030405 | 17 Nov, 2020, 08:56: PM
ANSWERED BY EXPERT