Latest Book Aptitude Question SOLUTION: A man borrows rs 6000 at 5% intrest,on reducing balance,atthe start of the yer,if he repays rs 1200 at the end of each year,find the amount of loan outstanding at the begining of t

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(#M40010222) BOOK question Keep an EYE

A man borrows rs 6000 at 5% intrest,on reducing balance,atthe start of the yer,if he repays rs 1200 at the end of each year,find the amount of loan outstanding at the begining of the third year?

Asked In Book prashanthi (11 years ago)

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chaitanya  (11 years ago)

Interest @ 5%
6000*5/100 =300

Amount paid at the end of 1st year => 1200

Balance Amount at the start of 2nd year=> 6000+300 -1200=5100

Interest @ 5%
5100*5/100 =255

Amount paid at the end of 2nd year => 1200

Balance Amount at the start of 3rd year=>5100+255-1200= 4155

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varma  (11 years ago)

4155
5100+255-1200= 4155

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