Question

A man borrows 4000 Rs from a bank at 10% compound interest. At the end of every year 1,500 Rs as part
of repayment of loan and interest. How much is still owe to the bank after three such instalments
Given:
$({1.1})^{3} = 1.331$

(a) 824 Rs
(b) 820 Rs
(c) 724 Rs
(d) 720 Rs​

Answer 1

There is no correct option in this question

correct answer is Rs 359

Step-by-step explanation:

i actually also didn't get it right but as compared to other option i got my answer as nearby to Rs359

U can solve it by formula of present value of annuity regular:

V= A[(1+i)^n - 1 ] / i*(1+i)^n

where,

i= interest rate n= no. of yrs V=Present value A= Annuity

Thanks, if u liked u can thank nd mark as brainliest but its your choice , not forcing