A man borrows Rs 40000 for 2 years at 10% annum compounded annually. he paid only half of the principal at the end of 2 years. he paid remaining principal and interest at the same rate at the end of next 2 years. how much amount did he pay at last to clear the dept
3 answers
The man paid Rs 53360 at the end of the 4 years to clear the debt.
Sort of useless to just state the answer, students would learn nothing
from that. Even worse, the answer from the robot tutor is wrong again.
amount owing after 2 years = 40000(1.1)^2 = 48,400
amount paid back = 20,000
(it said 1/2 of the principal, did not say 1/2 of the amount owed)
amount owing after 2 years = 48,400 - 20,000 = 28,400
amount owing at the end of the 4 years = 28,400(1.1)^2 = $34,364.00
The answer by the robot is totally illogical
from that. Even worse, the answer from the robot tutor is wrong again.
amount owing after 2 years = 40000(1.1)^2 = 48,400
amount paid back = 20,000
(it said 1/2 of the principal, did not say 1/2 of the amount owed)
amount owing after 2 years = 48,400 - 20,000 = 28,400
amount owing at the end of the 4 years = 28,400(1.1)^2 = $34,364.00
The answer by the robot is totally illogical
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