Selina Solutions Class 9 Mathematics Solutions for Exercise 2(B) in Chapter 2 - Chapter 2- Compound Interest [Without Using Formula

Question 3 Exercise 2(B)

A man borrows Rs 6,000 at 5 percent C.I. per annum. If he repays Rs 1,200 at the end of each year, find the amount of the loan outstanding at the beginning of the third year.

Answer:

Selina Solutions CONCISE Maths - Class 9 ICSE chapter Chapter 2- Compound Interest [Without Using Formula Question 3 Solution image

Video transcript

"hello students my name is megha and i am a tutor at zero learning in this q a video we will explore the concept of interest a man borrows rupees six thousand at five percent compounded rest per annum if he repays rupees 1200 at the end of each year find the amount of the loan outstanding at the beginning of the third year so we have given that amount borrowed is rupees 600 rate of interest 5 percent and interest will be let's find the interest interest will be equals to p into r into t for example for the first year it will be t so it will be divided by 100 so it will be rupees 300 interest so amount amount at the end of first year is six thousand plus three hundred sixty three hundred rupees and amount left to be paid will be equals to we will minus 1200 because it is paying rupees 1 1200 at the end so amount left to be paid it will be equals to 6300 minus 1200 so this will be equals to how much this will be equals to rupees 5100 right now let's calculate interest now for interest to be calculated for the second year it will be principal 1500 rate of interest five year one divided by hundred so interest will be equals to rupees 255 so amount at the end of second year it will be equals to 50 100 plus 5100 plus 2255 so it will be equals to 500 355 5355 and amount left to be paid is equals to five three five five minus twelve hundred so it is four one five five and the amount left to be paid at the end of second year is the amount of the loan outstanding at the beginning of the third year so this is the amount of the loan to outstanding at the beginning of the third year so if you have any query in this question please drop a comment below and subscribe to our channel for more updates thank you"

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