Question:
A man borrows Rs. 4,000 at 20\(\%\) compound rate of interest. At the end of each year he pays back Rs. 1,500. How much amount should he pay at the end of the third year to clear all his dues?
A man borrows Rs. 4,000 at 20\(\%\) compound rate of interest. At the end of each year he pays back Rs. 1,500. How much amount should he pay at the end of the third year to clear all his dues?
Updated On: Oct 24, 2024
- Rs. 2,952
- Rs. 2,852
- Rs. 2,592
- Rs. 2,953
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The Correct Option is A
Solution and Explanation
The correct option is (A): Rs. 2,952
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