Question

A borrows Rs 8000 from B at 15% p.a

Q: Answer-A borrows Rs 8000 from B at 15% p.a compound interest compounded annually. At the end of every year...

At the end of the 1st year Amount 8000 times 115 Rs. 9200 Rest amount 9200 ndash 1500 Rs. 7700 At the end of 2nd year Amount 7700 times 115 Rs. 8855 Rest amount 8855 ndash 1500 Rs. 7355 At the end of 3rd year Amount 7355 times 115 Rs. 8458.25

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. 3076.8

C Rs. 5960

D Rs. 3800

E Rs. 8458.25