Question 90

A man borrows Rs. 5000 at the rate of 10% compound interest per annurn• At the end of each year he pays back Rs. 1500 for the first 2 years. The am ount he should pay at the end of 3rd year to clear the loan (in Rs.) is


At the end of first year

$$=5000×1.1=5500$$Rs would be paid.

After 1500 payment,he would be left with


At the end of second year


After 1500 payment,he would be left with 


So,at the end of third year the amount would become$$=2900×1.1=3190.$$

B is correct choice.

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