A man borrows Rs 6000 at 10% rate of interest compounded annually. He pays back Rs 2000 at the end of each year to clear his debt. The amount that he should pay to clear all his dues at the end of third year is
Rs 1366
((6000+10%-2000)+10%-2000)+10%-2000)=1366
A person borrows Rs 29000 each from two lenders for 7 years at 6.75% per annum simple interest. He immediately lends both the sum to another person at 11.25% per annum for 7 years. Find his gain in the transaction per year.
There is 60% increase in an amount in 5 years at simple interest. What will be the compound interest of Rs. 10000 after 3 years at the same rate (compounded annually)?
A person borrows Rs 75000 for 9 years at 5.5% p.a. simple interest. He immediately lends it to another person at 9.25% p.a. for 9 years. Find his gain in the transaction per year.
