Question
Quantitative Ability and Data Interpretation Question on Compound Interest
A man borrows Rs 4000 at 15% compound interest. At the end of each year he pays back Rs 1500. How much amount is required to pay at the end of third year to clear all his dues :
A
Rs.775.75
B
Rs.973.85
C
Rs.1500
D
Rs.874.75
Answer
Rs.874.75
Explanation
Solution
The correct option is (D) : Rs.874.75