#### Jaya borrowed ₹ 50000 for 2 years. The rates of interest for two successive years are 12% and 15% respectively. She repays ₹ 33000 at the end of first year. Find the amount she must pay at the end of second year to clear her debt.

**Solution:**

It is given that

Amount borrowed by Jaya = ₹ 50000

Period (n) = 2 years

Rate of interest for two successive years are 12% and 15% respectively

We know that

Interest for the first year = Prt/100

Substituting the values

= (50000 × 12 × 1)/ 100

= ₹ 6000

So the amount after first year = 50000 + 6000 = ₹ 56000

Amount repaid = ₹ 33000

Here

Balance amount for the second year = 56000 – 33000 = ₹ 23000

Rate = 15%

So the interest for the second year = (230000 × 15 × 1)/ 100

= ₹ 3450

Amount paid after second year = 23000 + 3450 = ₹ 26450

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