Mathematics · Compound Interest
A person borrows ₹51,600 at a compound interest rate of 15% per annum, compounded annually. At the end of each year, he pays back ₹3,200 as a partial payment. How much amount does he still owe after making two such annual payments?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1₹61,361✓
- 2₹61,409
- 3₹61,262
- 4₹61,267
Correct answer
₹61,361
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