Mathematics · Compound Interest
A man borrows ₹17,100 at an annual rate of 40% compound interest, compounded annually. At the end of each year, he pays ₹8,900 as partial payment. How much does he still owe after two such installments?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1₹12,300
- 2₹12,156✓
- 3₹12,005
- 4₹12,074
Correct answer
₹12,156
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