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100 101 We third year.9. Ashok borrowed * 12,000 at some rate percent compound interest. After a year, he paidback * 4,000. If compound interest for thesecond year be 920, find :(i) the rate of interest charged(ii) the amount of debt at the end of thesecond year. |
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Answer» Loan = Rs 12,000 Interest rate = r % compound Amount after one year = Rs 12,000 ( 1 + r/100) = Rs 120(100+r)Amount paid back after one year = Rs4,000BalanceAmount in the loan = Rs 120 (100+r) - 4,000 = Rs (8,000 + 120 r) CompoundInterest for 2nd year turns out to be same as simple interest on the above amount: Rs(8000+120r)*r/100=Rs 80r+1,2r squareafter solving r=10 percentignored the negative part of this equation r=10 percent ...thank u ...like plz for point |
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