Mathematics · Compound Interest
A man borrows ₹23,000 at 40% annual compound interest, compounded annually. At the end of each year, he pays ₹6,000 as a partial payment. How much does he still owe after two such installments?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1₹30,700
- 2₹30,846
- 3₹30,680✓
- 4₹30,570
Correct answer
₹30,680
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