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A man borrows Rs. 4000 from a bank at 7...

A man borrows Rs. 4000 from a bank at `7(1)/(2)%` compound interest. At the end of every year he pays Rs. 1500 as part repayment of loan and interest. How much does he still owe to the bank after three such installments?

A

Rs.123.25

B

Rs.1250

C

Rs.400

D

Rs.469.18

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The correct Answer is:
A
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