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Q.

A person borrowed Rs. 6500 at 10% C.I. and he paid Rs. 2150 at the end of the year. How much has to be paid at the end of 3 years?

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a

Rs. 6050

b

Rs. 2250 

c

Rs. 4250

d

Rs. 5340

answer is A.

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Detailed Solution

Amount after 1 year is 

A=6500×110100=7150

he paid 2150 at the end of the year

7150-2150=5000

at the end of 2nd year he pays 5000×110100=5500

at the end of 3 year he pays 5500×110100=6050

 

 

 

 

 

 

 

 

 

 

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