Mathematics · Compound Interest
Jonathan borrowed a sum of money 3 years ago at 10% interest per annum compounded annually for a 5-year period. The total amount to be paid at the end of the 5-year period is Rs. 1,61,051. If there is no pre-payment penalty and Jonathan decides to clear his total accumulated debt now (at the end of the 3rd year), how much does he have to pay?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Rs. 1,33,200
- 2Rs. 1,33,100✓
- 3Rs. 1,32,900
- 4Rs. 1,33,000
Correct answer
Rs. 1,33,100
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