Mr. Kumar borrowed Rs. 15,000 for 2 years. The rate of interest being 8% & 10% for respective years. If he repays Rs. 6,200 at the end of 1^st year, find the Amount outstanding at the end of the 2^nd year.

Rs.10,000

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Rs.12,000

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Rs.16,000

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Rs.15,000

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Rs.11,000

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

Open in App

Solution

The correct option is E
Rs.11,000

Suggest Corrections

Similar questions

Q. A man borrows

R s . 1, 200

at rate

10

percent per annum compound interest. If he repays

R s . 250

at the end of each year, find the amount outstanding at the beginning of the fourth year.

Q. A man borrows Rs. 8,000 at 10 percent Compound interest. If he repays Rs. 1,500 at the end of first year and Rs. 3,200 at the end of second year, find the amount of loan outstanding at the beginning of the third year.

Mr. Dubey borrows Rs. 1,00,000 from state bank of India at 11 % per annum compound interest. He repays Rs. 41,000 at the end of the first year & Rs. 47,700 at the end of the second year. Find the amount outstanding at the beginning of the third year.

Q. A man borrows Rs.