Mathematics · Compound Interest
A person borrows ₹44,800 at 25% per annum compound interest, compounded annually. At the end of each year, he pays ₹2,000 as a partial repayment. How much balance amount will remain outstanding after two such installments?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1₹65,500
- 2₹65,687
- 3₹65,394
- 4₹65,340✓
Correct answer
₹65,340
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