Mrs Sudha borrowed Rs 12,000 at 6% p.a. compound interest from her brother. She repaid Rs 5,720 and 7,300 at the end of the first year and second year. Find the amount she has to pay at the end of the third year if she has to discharge the loan and her brother has reduced the rate from 6% to 4% after the first year.

Question

Mrs Sudha borrowed Rs 12,000 at 6% p.a. compound interest    from her brother. She repaid Rs 5,720 and 7,300 at the end of the first year and second year. Find the amount she has to pay at the end of the third year if she has to discharge the loan and her brother has reduced the rate from 6% to 4% after the first  year.

Examsnet · Accepted Answer

Correct Answer is :  None of these

Compound Interest Practice Test 2