Question
Quantitative Aptitude Question on SI & CI
Roselin borrowed a sum of 6,000 at the annual interest rate of 15% compounded annually. At the end of each year, she pays back 1,200. What is the total amount she has to pay at the end of the third year in order to clear all her dues?
A
6,158.25
B
6,000
C
5,132.25
D
5,950
Answer
6,158.25
Explanation
Solution
The correct answer is (A);6,158.25