Question

A borrows Rs 6500 from B at 20% p.a

Q: Answer-A borrows Rs 6500 from B at 20% p.a compound interest compounded annually. At the end of every year...

At the end of the 1st year Amount 6500 times 120 Rs. 7800 Rest amount 7800 ndash 1500 Rs. 6300 At the end of 2nd year Amount 6300 times 120 Rs. 7560 Rest amount 7560 ndash 1500 Rs. 6060 At the end of 3rd year Amount 6060 times 120 Rs. 7272

compound interest compounded annually. At the end of every year he pays Rs 1500 and at the end of 3rd years he pays all the amount, how much amount does he pay at the end of the 3rd year?

A Rs. 4513.75

B Rs. 7272

C Rs. 3768

D Rs. 3800

E Rs. 4235

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A borrows Rs 6500 from B at 20% p.a

Solution