#### Mr. Dubey borrows ₹ 100000 from State Bank of India at 11% per annum compound interest. He repays ₹ 41000 at the end of first year and ₹ 47700 at the end of second year. Find the amount outstanding at the beginning of the third year.

**Solution:**

It is given that

Borrowed money (P) = ₹ 100000

Rate = 11% p.a.

Time = 1 year

We know that

Amount after first year = Prt/100

Substituting the values

= (100000 × 11 × 1)/ 100

By further calculation

= 100000 + 11000

= ₹ 111000

Amount paid at the end of first year = ₹ 41000

So the principal for second year = 111000 – 41000

= ₹ 70000

We know that

Amount after second year = P + (70000 × 11)/ 100

By further calculation

= 70000 + 700

= ₹ 77700

So the amount paid at the end of second year = ₹ 47700

Here the amount outstanding at the beginning year = 77700 – 47700

= ₹ 30000

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