A person borrowed a sum of ₹30800 at 10% p.a. for 3 years, interest compounded annually. At the end of two years, he paid a sum of ₹13268. At the end of 3rd year, he paid ₹ x to clear of the debt. What is the value of x ?
Amount to be paid after 2 years = 30800(1+$$\frac{10}{100}$$)$$^2$$
= 30800($$\frac{11}{10}$$)$$^2$$
= 30800($$\frac{121}{100}$$)
= ₹37268
Amount paid by the person = ₹13268
Remaining amount = ₹37268 - ₹13268 = ₹24000
Amount to be paid at the end of 3rd year to clear debt(i.e, compound interest on ₹24000 for next 1 year) = 24000(1+$$\frac{10}{100}$$)$$^1$$
$$\Rightarrow$$ x = 24000($$\frac{11}{10}$$)
$$\Rightarrow$$ x = ₹26400
Hence, the correct answer is Option A
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