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March 26, 2017

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A man borrows Rs 18000 at 5% per annum compound interest .If he repays Rs 6000 at the end of the first year and Rs 8000
at the end of the second year; how much should he pay at the end of the 3rd year in order to clear the account?

  • maths - ,

    x + 8000(1.05) + 6000(1.05)^2 = 1800(1.05)^3
    ...
    ....
    x =5822.25

    ( For these I make a "time graph"
    on a line, mark 0 (now), year 1, year 2 , and year 3
    Place 18000 above the "now"
    place 6000 at 1, 8000 at 2, and x at 3

    "move" all monies to position 3 )

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