Discover answers to your questions with Westonci.ca, the leading Q&A platform that connects you with knowledgeable experts. Explore comprehensive solutions to your questions from a wide range of professionals on our user-friendly platform. Explore comprehensive solutions to your questions from a wide range of professionals on our user-friendly platform.
Sagot :
Let's solve this problem step-by-step:
### Initial Details:
- Principal Amount: ₹ 1,000
- Interest Rate: 10% per annum (compound interest)
- Annual Repayment: ₹ 300
- Time Period: 2 years
### First Year:
1. Initial Principal (at the start of the year): ₹ 1,000
2. Interest for the First Year:
- The interest is calculated on the initial principal amount.
- \( \text{Interest} = 1{,}000 \times \frac{10}{100} = 1,000 \times 0.10 = ₹ 100 \)
3. Total Amount at the End of First Year (before repayment):
- This is the sum of the principal plus the interest added.
- \( \text{Total Amount} = 1{,}000 + 100 = ₹ 1{,}100 \)
4. Repayment at the End of First Year:
- Subtract the repayment amount from the total amount.
- \( \text{Amount after Repayment} = 1{,}100 - 300 = ₹ 800 \)
### Second Year:
1. Principal Amount at the Start of the Second Year: ₹ 800
2. Interest for the Second Year:
- The interest is now calculated on the remaining principal amount after the first year's repayment.
- \( \text{Interest} = 800 \times \frac{10}{100} = 800 \times 0.10 = ₹ 80 \)
3. Total Amount at the End of Second Year (before repayment):
- This is the sum of the new principal plus the interest added.
- \( \text{Total Amount} = 800 + 80 = ₹ 880 \)
4. Repayment at the End of Second Year:
- Subtract the repayment amount from the total amount.
- \( \text{Amount after Repayment} = 880 - 300 = ₹ 580 \)
### Conclusion:
The amount of loan outstanding at the end of the 2nd year is ₹ 580.
### Initial Details:
- Principal Amount: ₹ 1,000
- Interest Rate: 10% per annum (compound interest)
- Annual Repayment: ₹ 300
- Time Period: 2 years
### First Year:
1. Initial Principal (at the start of the year): ₹ 1,000
2. Interest for the First Year:
- The interest is calculated on the initial principal amount.
- \( \text{Interest} = 1{,}000 \times \frac{10}{100} = 1,000 \times 0.10 = ₹ 100 \)
3. Total Amount at the End of First Year (before repayment):
- This is the sum of the principal plus the interest added.
- \( \text{Total Amount} = 1{,}000 + 100 = ₹ 1{,}100 \)
4. Repayment at the End of First Year:
- Subtract the repayment amount from the total amount.
- \( \text{Amount after Repayment} = 1{,}100 - 300 = ₹ 800 \)
### Second Year:
1. Principal Amount at the Start of the Second Year: ₹ 800
2. Interest for the Second Year:
- The interest is now calculated on the remaining principal amount after the first year's repayment.
- \( \text{Interest} = 800 \times \frac{10}{100} = 800 \times 0.10 = ₹ 80 \)
3. Total Amount at the End of Second Year (before repayment):
- This is the sum of the new principal plus the interest added.
- \( \text{Total Amount} = 800 + 80 = ₹ 880 \)
4. Repayment at the End of Second Year:
- Subtract the repayment amount from the total amount.
- \( \text{Amount after Repayment} = 880 - 300 = ₹ 580 \)
### Conclusion:
The amount of loan outstanding at the end of the 2nd year is ₹ 580.
Thank you for choosing our platform. We're dedicated to providing the best answers for all your questions. Visit us again. Thank you for choosing our platform. We're dedicated to providing the best answers for all your questions. Visit us again. Westonci.ca is your trusted source for answers. Visit us again to find more information on diverse topics.