A man borrows rs. 75000 at 12% per annum compounded annually. If he repay rs. 2200 at the end of each year find the amount outstanding against him at the end of the third year.
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Answer:
75000+12%=84000
84000-2200=81800 at the end of first year
81800+12%=91616
91616-2200=89416 end of 2nd year
89416+12%=100415.92
100415.92-2200=97945.92ans
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