A man borrow Rs. 4000 at 15%, compound rate of interest. At the end of each year he pays back Rs. 1500. How much amount should be pay at the end of the third year to clear all his dues ?

  • 1Rs. 874.75
  • 2Rs. 824.50
  • 3Rs. 924.25
  • 4Rs. 974.25
Answer:- 1
Explanation:-

Solution:
Amount after 1st year = Rs[4000(1+15100)1500]=Rs[(4000×2320)1500]=Rs(46001500)=Rs3100Amount after 2nd year = Rs[3100(1+15100)1500]=Rs[(3100×2320)1500]=Rs(35651500)=Rs2065Amount after 3rd year = Rs[2065(1+15100)1500]=Rs[(2065×2320)1500]=Rs(2374.751500)=Rs874.75

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", "dateCreated": "7/24/2019 10:09:12 AM", "author": { "@type": "Person", "name": "Nitin Sir" } }, "suggestedAnswer": { "@type": "Answer", "text": "
Solution:
Amount after 1st year = Rs[4000(1+15100)1500]=Rs[(4000×2320)1500]=Rs(46001500)=Rs3100Amount after 2nd year = Rs[3100(1+15100)1500]=Rs[(3100×2320)1500]=Rs(35651500)=Rs2065Amount after 3rd year = Rs[2065(1+15100)1500]=Rs[(2065×2320)1500]=Rs(2374.751500)=Rs874.75
", "dateCreated": "7/24/2019 10:09:12 AM" } }
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