Question

. Ramu took a loan of 50000 rupees from a bank which charges 10% interest, compounded an- nually. He repaid 10000 rupees after one year and 15000 rupees after two years. How much should he pay at the end of three years to settle the loan?​

Answer 1

Answer:

Ramu took a loan of 50000 rupees from a bank which charges 10% interest, compounded an- nually. He repaid 10000 rupees after one year and 15000 rupees after two years.

Answer 2

Answer:

= 30,550 rupee owed

Step-by-step explanation:

yr1 = 50000 x 0.10^1 = 5000

5000 - 10000 = 5000 credit from debt.

yr 2 = 50000 x 1.10^2 = 500 debit from debt = 5000-15000= 10,000 credit from debt

yr 3 = 50000 x 1.10^3 = 50 debit from debt

5000 + 500 = 15000 where 50,000 owed initially and yr1 and yr 2 paid in full interest of 5500 and we deduct this from his payment = 25000-5500 =

19500 paid of initial and nothing owed on interest.

50000-19500= 30,500 rupees owed + 50 rupee interest.

= 30,550 rupee owed