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6.Interest
medium
A man borrows ₹ $25000$ at $20 \%$ compound interest. At the end of every year he pays ₹ $5000$ as part repayment. How much (In ₹) does he still owe after three such instalments?
A
$25000$
B
$12864$
C
$15600$
D
None of these
Solution
Balance amount $=25000\left(1+\frac{20}{100}\right)^{3}-5000\left(1+\frac{20}{100}\right)^{2}-5000\left(1+\frac{20}{100}\right)-5000$
$=25000 \times\left(\frac{6}{5}\right)^{3}-5000\left(\frac{6}{5}\right)^{2}-5000\left(\frac{6}{5}\right)-5000$
$=200 \times 216-200 \times 36-6000-5000$
$=43200-7200-6000-5000=₹ 25000$
Standard 13
Quantitative Aptitude
