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A man borrows `4000 from a bank at 10% compound interest. At the end of every year ` 1,500 as part of repayment of loan and interest. How much is still owe to the bank after three such instalments [Given: (1.1)3 = 1.331] (a) ` 359 (b) ` 820 (c) ` 724 (d) ` 720?
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A man borrows `4000 from a bank at 10% compound interest. At the end o...
AS MAN MAKE A PAYMENT OF RS.1500 AT THE END OF EACH MONTH.
AMOUNT REMAIN AT 1ST YRS.
A(1+i)=4000(1+10/100)-1500=2900
AMOUNT REMAIN AT 2ND YRS.
A(1+i)=2900(1+10/100)-1500=1690
AMOUNT REMAIN AT 3RD YRS.
A(1+i)=1690(1+10/100)-1500=359----- SOLUTION

CORRECT ANSWER IS OPTION (A)
PLZZ...UPVOTE
Community Answer
A man borrows `4000 from a bank at 10% compound interest. At the end o...
Given information:
- Principal amount borrowed = `4000
- Rate of interest = 10% compounded annually
- Repayment amount at the end of each year = `1500
- Time period = 3 years
- (1.1)^3 = 1.331

Calculation:
1. Interest Calculation:
- First year interest = 10% of `4000 = `400
- Total repayment made at the end of the first year = `1500
- Hence, the principal amount left after the first year = `1500 - `400 = `1100
- Second year interest = 10% of `1100 = `110
- Total repayment made at the end of the second year = `1500
- Hence, the principal amount left after the second year = `1500 - `110 = `1390
- Third year interest = 10% of `1390 = `139
- Total repayment made at the end of the third year = `1500
- Hence, the principal amount left after the third year = `1500 - `139 = `1361

2. Final Calculation:
- The amount still owed to the bank after three instalments = principal amount left after the third year + interest for the third year
- Interest for the third year = `139
- Principal amount left after the third year = `1361
- Total amount still owed = `1361 + `139 = `1500

Hence, the answer is option (b) `820.
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A man borrows `4000 from a bank at 10% compound interest. At the end of every year ` 1,500 as part of repayment of loan and interest. How much is still owe to the bank after three such instalments [Given: (1.1)3 = 1.331] (a) ` 359 (b) ` 820 (c) ` 724 (d) ` 720?
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A man borrows `4000 from a bank at 10% compound interest. At the end of every year ` 1,500 as part of repayment of loan and interest. How much is still owe to the bank after three such instalments [Given: (1.1)3 = 1.331] (a) ` 359 (b) ` 820 (c) ` 724 (d) ` 720? for CA Foundation 2025 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about A man borrows `4000 from a bank at 10% compound interest. At the end of every year ` 1,500 as part of repayment of loan and interest. How much is still owe to the bank after three such instalments [Given: (1.1)3 = 1.331] (a) ` 359 (b) ` 820 (c) ` 724 (d) ` 720? covers all topics & solutions for CA Foundation 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A man borrows `4000 from a bank at 10% compound interest. At the end of every year ` 1,500 as part of repayment of loan and interest. How much is still owe to the bank after three such instalments [Given: (1.1)3 = 1.331] (a) ` 359 (b) ` 820 (c) ` 724 (d) ` 720?.
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