CDS 2009 (II) Mathematics Q2

05:44 , 0 Comments

Q2.  A person borrowed Rs. 7500 at 16% compound interest. How much does he have to pay at the end of two years to clear the loan?

Soln:
At the end of first year he will have to pay = 7500*16% = Rs. 8,700.
At the end of second year he will have to pay = 8700*16% = Rs. 10,092.

Itachi443

Some say he’s half man half fish, others say he’s more of a seventy/thirty split. Either way he’s a fishy bastard.

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