Mathematics · Compound Interest
Ramu borrows Rs. 64,000 at 25% per annum compound interest. At the end of every year he pays Rs. 3,200 as part of repayment. How much does he still owe after making 3 such annual installments?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Rs. 12,500
- 2Rs. 1,12,800✓
- 3Rs. 12,800
- 4Rs. 1,12,500
Correct answer
Rs. 1,12,800
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