Multiple choice

Ajay borrowed Rs.28000 at 10% p.a. He repaid Rs.x at the end of the first year. What amount should he pay at the end of the second year to completely discharge the loan, compound interest being reckoned annually? x has the value such that the borrowed sum is 175% of x. अजय ने 28000 रुपये 10% वार्षिक ब्याज दर पर उधार लिया उसने पहले वर्ष के अंत में x रुपये का भुगतान किया। ऋण को पूरी तरह से निर्वहन करने के लिए दूसरे वर्ष के अंत में उसे कितनी रकम देनी चाहिए, यदि ब्याज चक्रवृद्धि रूप से संयोजित होता? x का मान ऐसा है कि यह उधार राशि , x का 175% है।

  1. Rs.16280

  2. Rs.16440

  3. Rs.12640

  4. Rs.16420

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A Correct answer
Explanation

Given borrowed sum = 28000, which is 175% of x, so x = 28000/1.75 = 16000. After year 1: Amount = 28000(1.1) = 30800. Repayment of 16000 leaves 14800. After year 2: 14800(1.1) = 16280. This is the final payment needed. The compound interest formula A = P(1+r)^n is applied sequentially with the repayment.