Question

A man borrows Rs. $10,000$ at $8$% p.a. simple interest fot $2$ years. He repays Rs.$10,000$ at the end of two years and the balance at the end of the third year. How much (in Rs.) did he repay at the end of the third year?

• A. $600$
• B. $1600$
• C. $160$
• D. $0$

Answer 1

Answer: (B)

$1600$

P $=10000$ , R $=8\%$ , T $=2$

we know that SI $=\frac{PRT}{100}$

$⟹\frac{10000\times 8\times 2}{100}=1600$

Amount $=P+SI=11600$

he pays $10000$ after $2$ years

$\therefore$ amount to pay $=11600-10000=1600$