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soumen das

· started a discussion

· 1 Months ago

any short cut for these types (Question: 195840.0 )

any short cut for these types

Question:
A man borrows Rs. 3000 at 10% compound rate of interest. At the end of each year he pays back Rs. 1000. How much amount should he pay at the end of the third year to clear all his dues?
Options:
A) Rs. 1530
B) Rs. 1683
C) Rs. 1663
D) Rs. 1563
Solution:
Ans: (b) After 1 year, Amount will be 

= 3000 + 10% of 3000 

= Rs. 3300

he pays 1,000, after completion of a year.

After 2 year, Amount will be

= 2300 + 10% of 2300

= Rs. 2530

After 3 year, Amount will be 

= 1530 + 10% of 1530

= Rs. 1683

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