A man borrows ₹ 25000 at 20 % compound intere | vedclass

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Question

Balance amount $=25000\left(1+\frac{20}{100}ight)^{3}-5000\left(1+\frac{20}{100}ight)^{2}-5000\left(1+\frac{20}{100}ight)-5000$

$=25000 	ime

Vedclass · Accepted Answer

$25000$

Vedclass · Answer

Balance amount $=25000\left(1+\frac{20}{100}ight)^{3}-5000\left(1+\frac{20}{100}ight)^{2}-5000\left(1+\frac{20}{100}ight)-5000$

$=25000 	imes\left(\frac{6}{5}ight)^{3}-5000\left(\frac{6}{5}ight)^{2}-5000\left(\frac{6}{5}ight)-5000$

$=200 	imes 216-200 	imes 36-6000-5000$

$=43200-7200-6000-5000=₹ 25000$

A man borrows ₹ $25000$ at $20 \%$ compound interest. At the end of every year he pays ₹ $5000$ as part repayment. How much (In ₹) does he still owe after three such instalments?

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