Home
Class 14
MATHS
A person borrowed Rs. 7,500 at 16% compo...

A person borrowed Rs. 7,500 at 16% compound interest. How much does he have to pay at the end of two years to clear the loan ?

A

₹ 9900

B

₹ 10092

C

₹ 11000

D

₹ 11052

Text Solution

Verified by Experts

The correct Answer is:
B
Promotional Banner

Similar Questions

Explore conceptually related problems

A man borrows Rs. 21000 at 10% compound interest. How much he has to pay equally at the end of each year, to settle his loan in two years?

Farhan borrowed Rs 25,000 at 10% per annum under compound interest. He repaid a certain amount at the end of the first year and paid Rs 24,750 at the end of 2nd year to completely disburse the loan. What amount did Farhan repay at the end of the first year?

Kisanrao wanted to make a pond in his field. He borrowed ₹ 35,250 at 6 p.c.p.a. from a bank. How much interest will he have to pay to the bank at the end of the year?

A person takes a loan of Rs 200 at 5% simple interest.He returns Rs 100 at the end of 1 year.In order to clear his dues at the end of 2 years,he would pay: (a) Rs 105 (b) Rs 110 (c) Rs 115 (d) Rs 115.50