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    Question

    TYPE 4

    Anil borrowed Rs.10000 on CI at the rate of 20% for

    three years. He paid at the end of first year (1/8)th of amount and end of second year (1/6)th of amount. How much amount Anil have to pay at the end of third year to complete his debt?
    A Rs.12600 Correct Answer Incorrect Answer
    B Rs.13824 Correct Answer Incorrect Answer
    C Rs.12474 Correct Answer Incorrect Answer
    D Rs.18634 Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    Amount after one year = (10000 + 10000 × 20/100) × 7/8 = Rs.10500 Amount after second year = (10500 + 10500 × 20/100) × 5/6 = Rs.10500 Amount have to pay at the end of third year = (10500 + 10500 × 20/100) = Rs.12600

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