📢 Too many exams? Don’t know which one suits you best? Book Your Free Expert 👉 call Now!
  • google app store apple app store
    • ✖

      Question

      A borrows Rs 9000 from B at 30% p.a

      compound interest compounded annually. At the end of every year he pays Rs 3500 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 Correct Answer Incorrect Answer
      B Rs. 4080 Correct Answer Incorrect Answer
      C Rs. 5012.58 Correct Answer Incorrect Answer
      D Rs. 3800 Correct Answer Incorrect Answer
      E Rs. 4224 Correct Answer Incorrect Answer

      Solution

      At the end of the 1st year:
      Amount = 9000 × 130% = Rs. 11700
      Rest amount = 11700 – 3500 = Rs. 8200
      At the end of 2nd year:
      Amount = 8200 × 130% = Rs. 10660
      Rest amount = 10660 – 3500 = Rs. 7160
      At the end of 3rd year:
      Amount = 7160 × 130% = Rs. 9308

      Practice Next
      More Simple and compound interest Questions
      ask-question