Question

9. Pramod borrowed 60,000 at 12% per annum compound interest. If he pays 50% of the sum borrowed at the end of the first year and 50% of the remaining loan at the end of the second year, find the amount of loan outstanding at the beginning of the third year.

11th - 12th Class

Maths

Solution

321

4.0 (1 ratings)

(P) Amount Borrowed ( =z 60,000 ) Rate ( y ) interest ( =5 % ) Amomet at the end ( f ) lyear ( =P #left(1+frac{R}{100}right) ) [ begin{array}{l} =360,000left(1+frac{8}{180}right) =60,00000 frac{21}{20} =sum 6,3,000 end{array} ] Amonut repaid at the erd of ( operatorname{ls} t ) year ( =frac{50}{100} times 60,000 ) [ =Z 30,000 ] ( therefore ) Primeipal tor the 2 nd yem ( =sum 63,000-₹ 30,000 ) ( =bar{z} 33,000 ) Amount at the exd of ( 2^{text {the secold year }}left(1+frac{R}{100}right) ) [ begin{array}{l} =sum 33,000left(1+frac{5}{100}right) =533,060 times frac{21}{20}=1650 =₹ 34,650 end{array} ] Amount repaid at the end of second ( 50 % ) of ( I 60,000=sum 30,000 ) year ( therefore ) Amount outstanding at the beginning of the [ begin{aligned} text { thind year } &=sum 34,650-sum 30,000 &=sum 4,650(text { ANs }) end{aligned} ]