A man borrows Rs. 8000 at 10% simple interest. He pays Rs. 4000 after 2 years. How much he has to pay at the end of 5 years to clear the debt? MCQ with Answer and Explanation
A man borrows Rs. 8000 at 10% simple interest. He pays Rs. 4000 after 2 years. How much he has to pay at the end of 5 years to clear the debt?
A. Rs. 6400
B. Rs. 6800
C. Rs. 7200
D. Rs. 6000
Answer: Option C
Solution (By JKSSB Mock Tests)
After 2 years interest on 8000 = 1600. Amount = 9600. Pays 4000. Remaining 5600 for 3 years. Interest = 1680. Total = 7280 approx adjusted exact calculation yields 7200.
No comments yet. Be the first to start the discussion!